in the long run will dominate oil prices, not shale.

This is dollar negative and good for us EM investors in the longer run. This article is a good reminder of this likely transition of power back to the middle-east away from U.S. shale producers.

http://www.businessinsider.com/strife-in-the-middle-east-could-cause-problems-in-the-oil-market-2018-2