“Taking into account the future decline of shale production in the U.S. and Canada, it is Venezuelan oil that can become the substitutional element for the receding volumes of those markets.
–Igor Sechin, CEO of Russia’s Rosneft
Contents 1. Oil and the Global Economy 2. The Middle East & North Africa 3. Continue Reading
“[Drilling] Costs are falling nearly as fast as the price, which means oil producers can spend less to get the same or potentially even more in terms of production. While reductions in capex are coming faster than expected, it is unlikely to translate into less supply.“
— Goldman Sachs report [dartboard alert]
Contents 1. Oil and the Global Economy 2. The Middle East & North Africa 3. Continue Reading
“[Drilling] Costs are falling nearly as fast as the price, which means oil producers can spend less to get the same or potentially even more in terms of production. While reductions in capex are coming faster than expected, it is unlikely to translate into less supply.“
— Goldman Sachs report [dartboard alert]
“The world has such an improved outlook for supplies. Peak oil theorists have been run out of town by American ingenuity.”
— Bill Colton, Exxon’s chief strategist
Contents 1. Oil and the Global Economy 2. The Middle East & North Africa 3. Continue Reading
“We are becoming poorer, our savings vanish, prices grow; however we see an opposite effect to the one that is wanted by people who wish to see Putin knocked down.”
— Olga Kryshtanovskaya, sociologist, Russian Academy of Sciences.
Contents 1. Oil and the Global Economy 2. The Middle East & North Africa 3. Continue Reading
“Russia’s real problem is not a risk of a crisis, but the fact there is no way out of the current situation. A catastrophe is possible only if some really dramatic decisions in foreign or domestic policy will take place in the near term.”
— Konstantin Sonin, professor, Moscow’s Higher School of Economics
By Tom Whipple Contents 1. Oil and the Global Economy 2. The Middle East & Continue Reading
