OPEC postpones Diamond Anniversary in Baghdad

I was born on September 14 – just 9 years after the inception of OPEC. It’s a shame that the 60 years mark cannot be held at the birthplace but thats not what’s really important. When OPEC was conceived, it clearly dominated the oil world. When the OPEC decisionmakers sneezed, the world got a cold. No more. I don’t want to go as far as saying that OPEC is insignificant but it has lost much of its old luster. Shale will come back bigger stronger and way more aggressive than ever before. There is no messing with a redneck. And the fuels world will make a strong tilt towards methane. So, instead of worrying about where to make a party, it would be better to tackle the challenges of the now.

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