Dr. Daniel Fine, associate director of the New Mexico Center for Energy Policy and policy lead for the New New Mexico Energy Policy, explains how an oil price war led by Saudi Arabia impacts the prospects for drilling off the N.C. coast. Fine offered these comments during a May 21, 2015, speech to the John Locke Foundation’s Shaftesbury Society. Video courtesy of CarolinaJournal.tv. Access full-length videos of JLF presentations here:
Archive for May, 2015
So far, the discussion is over Mexican ocean-based refineries taking 100,000 barrels of our light oil in a swap for 100,000 barrels of their heavy for U.S. East Coast refineries.
The swap can be a physical exchange with tankers delivering to Mexico and picking up cargoes of Mexican heavy.
Any heavy Mexican oil purchased by U.S. refiners displaces foreign overseas imports from Saudi Arabia and Venezuela. This emerges as a North American counter to the OPEC oil price war. Now Mexico and the United States have a common market interest in a swap of oil between them. There are historic and strategic origins that surround the swap transactions. First, the change in Mexico towards oil and gas ownership and investment is itself a significant, if not radical, shift from exclusive, anti-foreign government control (enshrined in its 1938 Constitution) towards an opening to private foreign exploration and production companies. American companies are prominent among applicants to the first auction. PEMEX, Mexico’s state monopoly company is prepared to take partners who deliver capital and technology to increase production.
The John Locke Foundation presents The GeoPolitics of Oil Price-Resource War with oil and gas expert Dr. Daniel Fine RSVP NOW!
The John Locke Foundation presents
The Geopolitics of Oil Price-Resource War
In this presentation, Dr. Fine will discuss Saudi Arabian market share strategy and its threat to U.S. higher-cost shale oil. He will review how it began, the impact on new capital expenditure and drilling, how American technology is fighting back, and the impact on the Western states.
About Dr. Fine
Dr. Daniel Fine is the Associate Director of the New Mexico Center for Energy Policy and is a Senior Policy Analyst in the New Mexico State Department of Energy Minerals and Natural Resources. He has given testimony on strategic natural resources before the U.S. Senate Committees on Foreign Affairs and Energy and Natural Resources. Dr. Fine is co-editor of Resource War in 3-D: Dependence, Diplomacy and Defense, and has contributed to Business Week, the Engineering and Mining Journal, The Washington Times and the Energy Magazine/Daily Times, Farmington, New Mexico. Dr. Fine participated in the Atlantic Council Workshop on Central Asian Energy Policy and the Hudson Institute Russia-United States Relations Project (Oil and Gas). He was a member of the Director’s Advisory Board of the South Carolina Research Authority and a Research Associate at the Massachusetts Institute of Technology (Energy and Materials). He was also a contributor to the Harvard University Business School Study on Energy Futures.
Shaftesbury Luncheon talks are free and open to the public. An optional lunch is available for purchase at the event, or participants may brown bag a lunch if they choose.
Purchase Tickets for this Event Online -> http://www.johnlocke.org/events/event.html?id=1035