{"id":1110,"date":"2014-11-04T19:38:18","date_gmt":"2014-11-05T00:38:18","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1110"},"modified":"2014-11-04T19:38:18","modified_gmt":"2014-11-05T00:38:18","slug":"saudis-go-back-to-the-future-to-take-on-u-s-shale-rivals-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1110","title":{"rendered":"Saudis Go Back to the Future to Take on U.S. Shale Rivals &#8211; Bloomberg"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/news\/2014-11-04\/saudis-go-back-to-the-future-to-take-on-u-s-shale-rivals.html\">Saudis Go Back to the Future to Take on U.S. Shale Rivals &#8211; Bloomberg<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">The Saudi oil minister\u2019s visit to\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/venezuela\/\">Venezuela<\/a>this week is also a trip through time.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">Flash back to December 1998 when<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/saudi-arabia\/\">Saudi Arabia<\/a>\u00a0looked to its fellow OPEC member for help lifting\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/oil-prices\/\">oil prices<\/a>\u00a0from about $10 a barrel.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">Back then, the Saudis were defending their dominance in the global oil market from new suppliers in\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/latin-america\/\">Latin America<\/a>. Now the desert kingdom is cutting prices to the U.S. to contend with upstart shale producers. To win the showdown, the Saudis are trying to bring OPEC\u2019s weaker members in line before the Nov. 27 meeting of the organization, said Seth Kleinman, head of European energy research at Citigroup Inc. in\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/london\/\">London<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">\u201cShale is in the Saudis\u2019 sights,\u201d Kleinman said by e-mail. \u201cIt\u2019s going to be shale or it\u2019s going to be OPEC.\u201d<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudis Go Back to the Future to Take on U.S. Shale Rivals &#8211; Bloomberg. The Saudi oil minister\u2019s visit to\u00a0Venezuelathis week is also a trip through time. Flash back to December 1998 whenSaudi Arabia\u00a0looked to its fellow OPEC member for help lifting\u00a0oil prices\u00a0from about $10 a barrel. Back then, the Saudis were defending their dominance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[592,600,701,723],"class_list":["post-1110","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-oil-price","tag-opec","tag-saudi-arabia","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1110"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1110\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}