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Sunday, December 2, 2012

9 Charts That Show Why People Have Begun To Whisper About 'Saudi America' Read more: http://www.businessinsider.com/why-people-are-starting-to-talk-about-saudi-america

Flag ~ Saudi Arabia
Flag ~ Saudi Arabia (Photo credit: erjkprunczýk)
New York, Dec.2, swing trading .-  Earlier today we reported on the BofA/ML analyst who thinks it's possible that in the next 24 months, prices of West Texas Intermediate crude (the benchmark for US-borne oil) could fall to $50/barrel.
The basic gist: Thanks to oil from shale, production is growing like bonkers, and it will overwhelm the infrastructure, leading to huge gluts and collapsing prices.
There's a new phrase being bandied about and that's "Saudi America."
We first noticed it earlier this month when Morgan Stanley's Evan Calio used it to title a note. The economist Mark Perry used it on Twitter earlier this week, as well.
Even if it's an exaggeration, the boom in domestic energy (and the diminishing reliance on foreign oil) is one of the biggest US economic stories right now.
Here are some charts that show why people are so excited.
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