America is doing what many market analysts only a few years ago would have said was impossible.
Not only are we again the World Champion Oil Producer of all time but the tidal wave of oil production across 3 'fracking' regions in the US have surpassed the output capacity of all but 2 OPEC members states.
How is this possible?
Welcome to Cowboyistan.
The differentiator says fracking pioneer Harold Hamm, is the Three R’s: Rigs, Rednecks and Rights.
“We’ve got more rigs running than in the rest of the world combined. We’ve got highly trained and reliable rednecks to run them. And unlike anywhere else on the planet, we’ve got property rights, which enable landowners to lease out their acreage and receive royalties for their trouble. That’s what sets us apart.”
What does this mean for the long term?
Hamm believes the USA can over time become the most important oil-producing country on planet earth, usurping the throne from Saudi Arabia and the OPEC oil cartel.
Giddup! Yee Haw!!
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