2/2/15, "Sierra Club: Saudi Arabia ‘Our Best Ally’ in Keystone Fight," Washington Free Beacon, Lachlan Markay
"Leading environmentalist group heaps praise on Arab monarchy’s attempt to undermine U.S. oil production"
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"The world’s largest oil producer is actually the United States,
thanks to the ongoing fracking-induced surge in production. Saudi
Arabia hopes to reverse that trend. Rauber endorsed the strategy, which
he said is “sure to stifle new production.”
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It may already be doing so. “I don’t see many investments that are
going to go [ahead]” at current oil prices, John Watson, chief executive
of Chevron, said last week. Chevron recently announced that it would cut capital expenditures this year in the face of declining prices."...
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