In his latest article for LinkedIn, T. Boone Pickens shares his insights on the state of the oil and gas industry.
“If you take a longer look — which is what I’m paid to do – the future of the oil and gas industry isn’t that bleak. For the first time in 40 years, we’ve got OPEC on the run. The smaller producers, countries like Venezuela and Iran, want to cut back production and push the price up. But Saudi Arabia won’t have any of that. They want to undercut everyone, especially America’s oil and gas industry in the Dakotas and in Texas.
“Meanwhile, the U.S. has become the world’s swing producer. Thanks to our ability to ramp up production, America is playing a key role in setting the price of oil. That hasn’t happened in decades.”
Read the full article on LinkedIn: State of Oil & Gas: Swinging Oil Prices Are Nothing New. (Trust Me, I’m 87.)