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Title : Schadenfreude -- May 24, 2017
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Schadenfreude -- May 24, 2017

From The WSJ: How American shale drillers flipped OPEC’s script. U.S. output has surged since the 1916 production deal, leaving the cartel with little choice but to extend cuts (or even deepen them).

Folks who think the US can't grow at 3% GDP are nuts.

And chronically depressed.

And probably congenitally pessimistic.

And cornflakes. Or is it snowflakes?

Whatever.

From the linked article:

As it turns out for OPEC, competing against American shale oil really means competing against Wall Street and its financial engineering—a prospect that has bedeviled government-run oil companies from Saudi Arabia to Nigeria.

And that's just the start. 

More:

American shale producers have prevailed so far because they have continued to innovate and cut costs as they refine hydraulic fracturing, horizontal drilling and other pioneering techniques to unlock a flood of oil from Texas to North Dakota.

Another memo to Jane Nielson.

http://ift.tt/2dZyQXu

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