How Saudi Arabia can stop America from producing more fuel

In an interview on Public Radio International, Robert Kaufmann describes how most of the glut of oil in the world market comes from the US, thanks to increased production in places like Texas and North Dakota’s Bakken field. That’s the big reason gasoline prices have plummeted since the summer of 2014. But  the US is not insulated from the global oil market. instagram app for windows  Oil reserves in places like Saudi Arabia are cheaper to produce so they  can still make money at current oil prices — less than $50 a barrel — while producers in North Dakota and Texas have to pay far more per barrel.