Originally Posted by
RockyBoy
UAE says OPEC will no longer shore up oil price
I think the U.S government should subsidize shale producers so we can get to 10 million bpd by 2020 and watch the Saudi's go back to watching their camels. The last thing we need as a Nation is to see all the corporations that have gotten us to energy independence go bankrupt so we are once again at the mercy of the Saudi's for our oil.
I know it's not free market stuff, but I really don't want to see the Saudi's run our domestic oil producers out of business.
Agreed, but that should come hand-in-hand with much tighter environmental controls. What's not being discussed much is the damage being done. A little less free-for-all, a little consolidation probably wouldn't hurt, and the flip side of it could be bigger operators doing things better and tighter.
One way or another, this is all meant to concentrate production in the hands of the large producers. Saudi ARAMCO and EXXON aren't really all that far apart, are they?