Low oil prices are currently forcing a restructuring inside the United States oil industry. The U.S. cannot produce shale oil as cheaply as OPEC and it is much more sensitive to oil prices than Saudi Arabia, therefore the promises of an American manufacturing renaissance and other economic benefits have not materialized. Because of this it has become impossible for the U.S. to become independent of OPEC, Canada, Mexico or other oil producing nations. Dan Dicker, energy contributor at TheStreet, highlights these themes in his soon-to-be-released book, ‘Shale Boom, Shale Bust – The Myth of Saudi America’.
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