Had OPEC defended price as opposed to share they may have seen production fall by 5 M bpd and a price close to $100 maintained. The current course of defending 36 M bpd may take the oil price down to $20.
32 M bpd @ $100 is worth $1168 billion per year
36 M bpd @ $20 is worth $263 billion per year
The difference of $905 billion per year could make this one of the costliest blunders of all time.
http://www.gohaynesvilleshale.com/forum/topics/opec-s-gigantic-error
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In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of) nor local residents appear to have received any compensation for the minerals extracted from their land.
This area has suffered immense environmental degradation…
ContinuePosted by Char on May 29, 2025 at 14:42
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