How Does Shale Revolution Impact Oil Companies?

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Jan. 7 (Bloomberg) -- Kobi Partners Managing Partner Greg Rayburn discusses the impact of U.S. shale oil on foreign oil companies Bloomberg Television's "Street Smart." (Source: Bloomberg)

Was the lowest in four years.

This is changing how the global trade works.

Fracking, something virtually unintelligible -- unimaginable, that we would have new sources of oil in the united states.

What is this going to do to oil imports?

To the u.s. being dependent on them?

I do not think anything happening today will happen that's -- will change what for them is a 20 year playbook.

This may be happening faster than anyone predicted.

A couple new finds -- saudi arabia saying that they are not -- that they are fine.

I am doubtful that fracking caught them by surprise.

They have seen for decades that they need to expand the economy locally, and expand their exporting outside of oil.

If you look at the investment have made over the last 10 years, that would back that up and i'm not an expert on oil in saudi arabia, but i do not think that the things that are happening in this year will alter much with their game plan.

I have another global outlook story, dennis rodman.

He was in north korea, playing with the north korean fastball to -- afterbasketball team.

I started a basketball magazine a long time ago, and dennis was in our first and second is you and i spent a week with him back then.

Look at that height difference.

The thing about dennis is that he can shoot.

I played horse with him, and he can shoot from just about anywhere on the court.

He really liked to be a rebounder during the game, but he is quite a player.

The point is to say that north korea is more than we think?

I do not know if there is much to be said for him being there, but i've seen him engage in other things.

It is a risk.

What happens if he wins?

You could be an uncle.

Seeing the bulls play when they had a great run in the early 90's, that lasting affection for that team, and continuing to engage.

He has been returning calls from north korea.

And it is kim jong-il's birthday tomorrow.

He will be there to help them bring in the next year.

It is 26 minutes past the hour, and julie hyman is on the markets.

I do not know how much i can

This text has been automatically generated. It may not be 100% accurate.

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