Southwest Oil Independents warning to Saudi Arabia
By: Panhandle Import Reduction Initiative
CARLSBAD, N.M. - Aug. 31, 2016 - PRLog -- Texas and New Mexico oil companies and communities will warn Saudi Arabia and OPEC to stop overproduction of oil and lower prices as a strategy to slow or shut them down or face import quotas.
This is the challenge of independents at the Panhandle Initiative to Reduce Imports (PIRI) at an industry and public rally in Carlsbad on September 27th. It will go from 11:30 A.M. to 2:00 P.M. and will be held with a free lunch and admission at the Pecos River Village Convention Center, 711 MUSCATEL AVE, CARLSBAD, NM 88220.
Southwest and Rocky Mountain oil producers are under OPEC and Saudi Arabian attack. By 2019, they will capture the recovery of the demand for oil. OPEC is planning to force American consumers back to the 1990s of dependence on imports of foreign oil.
The American oil industry, which has in the last 10 years created the technology of oil self-sufficiency, will survive without the smaller independent company pioneers in shale and their future risk-taking in finding oil. Integrated companies (with production and refining combined) will survive and dominate in a second downturn with a smaller market share in America alongside potential 60% oil imports from foreign producers outside North America.
This summer's crude oil price recovery is unsustainable as Saudi Arabia expands capacity to supply most of the 2019 demand upturn worldwide. Price volatility should occur around geopolitical events such as military collision in the South China Sea.
The PIRI will present Dr. Daniel Fine and our strategic "White Paper" as the keynote along with oil and gas operators from the Delaware Basin (New Mexico Permian) and the San Juan Basin. The oil and gas industry "bust" will be presented by Tom Taylor, Economic Development, Four Corners and Tom Dugan of Dugan Productions. Tom Cambridge will speak on the Panhandle of West Texas and John Yates, Jr., Yates Petroleum, on the Permian/Delaware.
More information about the Panhandle Import Reduction Initiative (PIRI) can be found on the PIRI website -> http://www.panimportreduction.org/
Contact: Dr. Daniel Fine
The Panhandle Import Reduction Initiative (PIRI)