[Kizzy]

Fracking produces gas not oil??

[smudgie]

Originally Posted by Kizzy

Fracking produces gas not oil??

All energy.

[Kizzy]

Originally Posted by smudgie

All energy.

How is the production of shale gas relevant to oil prices though?

[DemolitionRed]

Originally Posted by Kizzy

How is the production of shale gas relevant to oil prices though?

This link explains it better than I could
http://www.independent.co.uk/news/bu...-a6789931.html

[Kizzy]

Originally Posted by DemolitionRed

This link explains it better than I could
http://www.independent.co.uk/news/bu...-a6789931.html

'Taxes on sugary drinks and tobacco, 40 per cent increases on the price of petrol and lower subsidies for water and electricity: the low oil price has taken its toll on Saudi Arabia.'

As a side note this is happening here too, when your economy is dependent on high oil/energy prices to function I guess something has to give.
No wonder we always dragged our heels on energy regulations as it possible a major source of wealth for our economy. If it goes down we crash.

We are attempting as America has to divest into shale, can't blame saudi for not slowing production as they are attempting to compete, as they explain who's to say other oil producing nations wouldn't just pick up the slack?...