U.S. still drills as oil trades below $50


Even as oil trades below $50 a barrel, America is re-asserting its role as an international energy player.

The growth in U.S. drilling threatens to counter OPEC production cuts.

The story goes deeper than the daily price of crude. U-S shale oil, for example, continues to chalk up production increases.

The rig count for U.S. shale oil has gone up nine straight weeks.

Oil expert Samuel Rines of Avalon Advisors says Saudi Arabia and other petrobosses may be manipulating the market at their own risk – because as they slow down pumping, U.S. investors have still found opportunity and profit.

As most OPEC members slash production to manage prices, American investors have found oil shale to be taproot for profits. That's true even as the world’s petroleum inventories expand.


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