“Given the receptive nature of the Middle Eastern countries to future oil and gas projects, oil giants from Europe are also planning to increase their investment in the region’s unceasing oil juggernaut.”“The notion that the world is moving away from fossil fuels is incorrect, at least as per the production and consumption numbers of oil, gas, and coal worldwide. The Middle East scenario gives a better picture of where the future of oil is headed.” On Earth Day, President Joe Biden was busy … [Read more...]
World owes thanks to American oil production in wake of attacks on Saudi Arabia
In the wake of drone attacks over the weekend on two of Saudi Arabia's top oil processing facilities, oil prices shot up worldwide, causing stock prices to fall. MarketWatch reported, "The attacks are believed to be part of a continuing conflict between Yemen’s Houthi rebels and Saudi Arabia," but many experts think Iran is likely behind them. "Our markets are on a wild ride today after the Houthi Rebel attacks," Matador Economics's Tim Snyder, a specialist in the world oil markets, said … [Read more...]
