[RayChuang88]

And we haven't even begun to do oil recovery in the Marcellus Shale in the northeastern USA. That could be several tens of billions of barrels of oil that too could be extracted from improved fracking techniques.

In short, OPEC will find out in the next 25 years what happens when Russia, USA and Canada become the world's biggest oil and natural gas producers. The free ride the Sunni Arabs got from all the all production in the southern Persian Gulf could soon be over.

[ryan71]

Let them eat sand.

[thackney]

There is no evidence of the Marcellus field containing any significant amounts of oil. All that has been shown is gas, and some natural gas liquids. It is not an oil bearing field.

http://pubs.usgs.gov/fs/2011/3092/pdf/fs2011-3092.pdf

[ckilmer]

In short, OPEC will find out in the next 25 years what happens when Russia, USA and Canada become the world’s biggest oil and natural gas producers. The free ride the Sunni Arabs got from all the all production in the southern Persian Gulf could soon be over.

.....
My betting is that Saudi oil is the cheapest to extract. Any fall in prices will constrain production of American frackers first.

However, the government there gets most of their revenue from oil. So the saudi government would be sorely crimped by falling oil prices. Same goes for the Russians. Both would have have less money available for adventures.