Why The U.S. Can't Be Called A "Swing Producer"
Submitted by Arthur Berman via OilPrice.com,
Daniel Yergin and other experts say that U.S. tight oil is the swing oil producer of the world.
They are wrong. It is preposterous to say that the world’s largest oil importer is also its swing producer.
There are two types of oil producers in the world: those who have the will and the means to affect market prices, and those who react to them. In other words, the swing producer and everyone else.
A swing producer must meet the following criteria: