DALLAS, April 10, 2015 /PRNewswire/ -- Three North American oil producing nations should combine resources and form a coalition that could rival OPEC as a dominant market force, says Chris Faulkner, Chairman and CEO of Breitling Energy Corporation (OTCBB:BECC). Canada, Mexico and the United States currently produce approximately 15 million barrels of oil per day combined. Faulkner believes if the three countries created a united oil federation, it could lead to North American energy independence and create a market stabilizing force that might potentially dethrone OPEC as the world's defacto price manipulator.
"Canada has the third largest reserves in the world and Mexico fully realizes its potential, both on and offshore. Combine that with the explosion of shale oil in the United States and we have a powerful force that could stand up to OPEC and say, 'You're not the bully on the corner any more'," says Faulkner
Faulkner foresees such a coalition sharing technology, information, production and infrastructure, including pipelines such as the stalled Keystone XL, which became a political and environmental football with the current administration. "We need true leadership in America to make this happen, and we have already peaked some interest among wise leaders in Washington who understand what this could mean," Faulkner says. "It will take time and a change of administration, but this would be good for North America and the rest of the world going forward. It's time to start talking about it," Faulkner added.
Global demand for OPEC oil is approximately 29 million barrels per day, yet the cartel still defiantly produces just over 30 million barrels per day. In March, Saudi Arabia is believed to have further increased its output to 10.3 million barrels per day, the highest in 12 years.
"Canada has one of the world's largest reserves and is our closest ally. President Pena Nieto is strategically positioning Mexico to be a dominant producer of the next decade. With America's know-how and leadership, we could generate almost as much oil as OPEC and completely change the balance of power," Faulkner observes. "If you like paying less than $3.00 per gallon for gasoline, this is the best way to insure we're not subject to being whipsawed around because of OPEC's distemper."
Faulkner plans to continue developing his plan with willing lawmakers, while educating the public through awareness campaigns. Faulkner's plan drew favorable attention from television and radio stations nationwide this week as part of a satellite media tour he conducted from New York City.
ABOUT BREITLING ENERGY CORPORATION
Breitling Energy Corporation is a growing U.S. energy company based in Dallas, Texas engaged in the exploration and development of high-probability, lower risk onshore oil and gas properties. The Company's dual-focused growth strategy primarily relies on leveraging management's technical and operations expertise to grow through the drill-bit, while also growing its base of non-operating working interests and royalty interests. Breitling Energy's oil and gas operations are focused primarily in the Permian Basin of Texas and the Mississippi oil window of southern Kansas and Northern Oklahoma, with non-operating investments in Texas, North Dakota, Oklahoma and Mississippi. Breitling Energy Corporation is traded over the counter under the ticker symbol: BECC. Additional information is available at www.breitlingenergy.com.
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SOURCE Breitling Energy Corporation