Also in this playlist...
This transcript is automatically generated
I just how big a deal is this more than a little pinch for OPEC -- since endorsement and still.
This that there are going to feel the pinch and this is gonna be very costly for them into the tune of Citigroup -- put out a very big drastic note in the month of February.
I think that's OPEC cannot find it very challenging -- even last.
Another sixty years they are saying Citigroup is saying that we have the ability.
To be energy independent in the next twenty years they've even -- on some other analysts say in the next five to ten years.
-- based on our -- -- here in the United States.
We have the ability according to the International Energy Agency to overtake Saudi Arabia they kingpin of oil production for OPEC.
And the next five to ten years and that is assuming.
We can keep -- -- -- -- that is assuming environmentalists don't get in the way that is assuming that private businesses still there's still enough incentive for them to go out there and do this and that the government doesn't get that get in the way.
Com Phil Flynn.
This is not entirely -- it's doing this.
But it is a lot of it and and I'm wondering whether -- the publicizing the fact that we're.
We're hurting OPEC now.
Is enough to get even a stubborn Yoko won't -- let's say all right -- -- -- -- I thought that I thought that was Ali now you mean when you read the latest us because that's what I gotta laugh at.
But this of the end of the OPEC cartel -- is -- -- swan song meal and they have.
You know alienated some of their biggest customers over the years.
In this is going to be a major things standard is absolutely right I I give OPEC meeting ten years.
This is the worst show.
Homeland since lovely young adults and ally and we forget about -- I don't didn't know Allen's been signed on the priority early eighties when oil -- -- -- -- They seem to survive that -- they have a way.
While they survived the 1990s busy guy named Hugo Chavez came in the power in helped you know help to have them -- to cartels with both states are over.
Neil let me tell you when you've got the biggest consumer of diesel fuel in the United States can't pay.
We're not gonna be buying your product in the next five to ten year -- the natural gas we don't need your oil.
That's going to be huge.
When you've got every major corporation in the world look into the United States to -- build factories because they can lock in cheap natural gas.
Who's gonna need OPEC well.
This is the most significant change in the energy industry probably in the last hundred years and by the way this is the biggest jump in US production probably since.
We're weren't so lucky you guys are great you cover this a lot more than I do with Sandra.
I just snow of their pitchers and -- -- many many times I also now.
As China and India and a lot of developing countries really did get on the you know.
On the ball here -- and and get to be the dominant players they are and and then some.
That's gonna take your your demand and that is going to get back to the relatively limited supply.
Let's also not forget that this isn't just a production story this is a demand story as well in.
Because of efficiency and devolved -- -- couple decades we're looking at demand levels that could be dropping and also jeopardizing -- so this isn't just about.
-- but my opponent is the demand eventually as the economy.
Recovers albeit slowly recovers -- that's gonna go up.
Don't forget about actual deaths -- natural gas is becoming a very very real threat.
I don't have a lot of time to make good on the back.
I will get -- win this bet on the bill Glenn I mean what could get in the way of your predicts.
Right now the government's getting involved in in fracking and -- -- going away from a but I you know I think I even think the governments can get away from that's.
We have seen this in history before -- You know we -- from these cycles and while remember the first time we had peak oil a few years ago we're running out of oil right.
You know we're talking about went away.
You know the market builds a better mouse trap and right now we are at the most significant juncture in US energy we're going to change the energy mix as we know what's going forward.
The way you think about energy five years ago has -- which.
I don't know doesn't -- you.
You got your little like puffs of smoke human haven't today but I thought I want to thank you abide.
Filter by section