So, it turns out The Wall Street Journal doesn’t have a section in their fine publication devoted to coated components. But here’s the thing – what we do, what you do, it’s a BIG deal. So we’re not going to quit our day jobs, but we monitor what’s going on and post it here on our site. Make sure to bookmark this page, visit often and tell your friends. This is your hub for news and updates for the industry.
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Jim Krane and Mark Agerton of Foreign Affairsexamine the anatomy of Americas shale boom. The U.S. Shale Boom Takes a Break By: Jim Krane and Mark Agerton (Foreign Affairs) Texas used to be the worlds swing producer of oil. In the first half of the twentieth century, the Texas Railroad Commission enforced production quotas to balance markets and keep prices and profits stable. Texas lost that job to OPEC in the 1970s, though, and never gained it backuntil now. The momentous shift became evident in the weeks after OPECs November decision to hold oil production steady in the face of weakening prices. It was time, Saudi oil minister Ali Naimi said, for another producer to idle his rigs. With Saudi Arabia standing firm, prices plummeted. Crude lost half its value between June and December 2014. Within a few weeks, it became apparent that someone would heed Naimis command, and that OPECs do-nothing strategy would succeed, at least in the short term. Starting in January, scattered roughnecks