How to Extend the Pipeline

How To Extend The Pipeline

Oil Tankers in the Panama Canal

The global oil landscape is changing very quickly. In the 80’s there existed an organization that could send fear into the minds of investors and world leaders: OPEC, the Organization of Petroleum Exporting Countries (focus on the exporting part). OPEC members were composed of the world’s largest oil producing exporters including Venezuela, Libya, Saudi Arabia, Iran and Iraq. This group had the ability to turn the oil spigot on and off with ease, wreaking potential havoc in world markets and economies. But we don’t live in the eighties anymore and today’s headlines show just how irrelevant this group has become. With the world’s global supply of oil increasing due to new drilling techniques we find ourselves facing the emergence of a new oil exporter, the United States.

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