Seen lower prices at the pump lately?  Saudi Arabia has enough petroleum reserves and funds to sustain itself for eight years with Brent crude at $83/bbl. – and they are now undercutting the competition to gain market share – to counter production increases in Canada and the U. S., businessincanada and Deutsche Bank tells MHProNews.

Should the Saudis and/or other OPEC members pursue this strategy for an extended period of time, this could clearly impact the oil/gas energy plays on both sides of the U. S./Canadian border.

How would lower energy prices affect fracking and higher paying jobs in current boom areas such as North Dakota, Texas, Louisiana, Ohio and Pennsylvania?

As MHProNews has reported many times, factory-built housing manufacturers have opened facilities in response to supplying manufactured and modular homes as well as workforce housing needs near the energy fields.

 

 

On the flip side?  Lower energy prices are said to be a boost for retail sales, which have already increased as prices at the pump are falling. That could be important going into the holidays, travel and the Christmas shopping season. ##

(Image credit: arabianbusiness – Canadian flag)

(Submitted by Matthew J. Silver to Daily Business News-MHProNews)