We told you what that will mean for the U.S. economy.
But what about the rest of the world?
Quartz’s Steve LeVine was the first write why this could spell big trouble for OPEC.
We also reported last month that Norway’s foreign minister believes that America’s shale boom could rearrange the Middle East’s balance of power as America becomes less reliant on its imports.
But we wanted to go one step further and narrow in one of America’s all-time frenemies: Saudi Arabia.
The kingdom is still rules the oil world in every major stat: production (11.2 billion barrels a day), exports (8.5 billion barrels a day) and largest oil deposit (the Ghawar field at an estimated 70 billion barrels).
But with the help of some charts from AEI’s Mark Perry, whose been chronicling America’s energy boom better than anyone; and the now-instant classic note, “The End Is Nigh [for rising oil demand]” from Citi’s Seth Kleinman and Ed Morse, we bring you 10 charts that should scare the crude out of the Saudis.
businessinsider
