NEW YORK, NY, June 20, 2012 /24-7PressRelease/ -- As the natural gas reserves have increased tremendously in the United States, the trend has been followed by a significant reduction in crude oil prices on an international scale. The drop has impacted several industries, including the airline industry, and has had many international representatives anticipating major changes across Chinese, European and Middle East markets. A recent Wall Street Journal article observes the views of one major OPEC leader, Total S.A. in accordance to these international power shifts. Joe Hilton, Boca Raton's oil and gas expert believes that these are changes for all energy companies to observe and learn from, however the wide range of possibilities should not strike fear in American consumers.
With insight from Christophe de Margerie, Total S.A.'s Chairman and Chief Executive, the article explains how many energy industry leaders are preparing to discuss the drop in oil prices at this week's OPEC International Seminar. While many industries across the world are currently benefiting from drops in crude oil prices, there is a possibility that international economies could be compromised if prices drop too low. For de Margerie, the threat is not that huge and says, "OPEC has all the means to prevent (crude) oil prices falling too low."
Joe Hilton of Boca Raton hopes and anticipates that OPEC leaders will not let the issue become too large before taking considerable action. According to the article, Saudi Arabia has already had to make changes to its industry by increasing its crude oil supplies to cover the losses caused by the price drop. Hilton explains, "OPEC, including the original seven sisters, regulates the Middle East relative to oil, and Europe may have to make extensive changes to keep everything balanced."
As the European economy faces concerns relating to its currency, de Margerie adds, "We'll adapt our refining capacities to the market." For him, it is vital that European governments are all making efforts to reduce gasoline and diesel use. "If there is less consumption, less capacities will be needed."
Joe Hilton concludes that Europe may be able to easily recover by using such tactics, but the United States should not have to follow the same trend. He urges consumers not to be concerned as, "The good news is that there is more crude oil here in the United States than all countries in the Middle East combined."
Pacific-Northwestern Energy President and Owner, Joe Hilton, leads corporate offices located in Boca Raton, Florida on energy industry matters. He is an expert in oil and natural gas drilling and is currently working on the completion of the promising Rock Castle Drilling Project. With a genuine entrepreneurial spirit, Joe Hilton has provided many businesses to the Boca Raton area, including United States Livestock, LLC and Quantum Seminars.