US, WASHINGTON (ORDO NEWS) — The American shale industry suffers large losses due to a sharp drop in the cost of a barrel of oil. The new conditions are not in line with Donald Trump’s plan for the “Golden Age of America.”
The forecast for the further development of the situation was presented by expert Vahe Davtyan.
The working conditions of the OPEC + countries in recent years have been very beneficial to the United States and its plans to increase the production of shale oil.
Favorable conditions in the energy market allowed Washington to earn $ 50 billion annually. Profitability allowed Donald Trump to announce the beginning of the “golden age of America”, but recent events on the stock exchanges indicate a sharp change in the situation.
Russia and Saudi Arabia are experiencing a number of difficulties due to falling oil prices, but energy production costs them much cheaper, said Vahe Davtyan, President of the Armenian Institute for Energy Security.
US oil shale companies began declaring bankruptcy immediately after oil became cheaper at $ 40 a barrel. It is likely that the United States will be the main victims of these circumstances.
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