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Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production
Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production A leading geologist delivers the hard facts As we’ve written about often here at PeakProsperity.com, much of what’s been ‘sold’ to us about the US shale oil revolution is massively over-hyped. The amount of commercially-recoverable shale oil is much less than touted, […]
Oil Prices Most Volatile Since 2009
Oil Prices Most Volatile Since 2009 The nearly 20 percent rally in oil prices over the past week raised hopes in the oil industry that the financial bloodshed might be over. But hopes were quickly dashed on February 4 when prices erased much of their gains – March deliveries of WTI dropped by a whopping 8 percent in a […]
Essential Oil Production Statistics – February 2015
Essential Oil Production Statistics – February 2015 This is the second in a monthly series of posts chronicling the action in the global oil market in 12 key charts. The January 2015 post is here. EIA oil price and Baker Hughes rig count charts are updated to end January 2015, the remaining oil production charts are updated to December 2014 […]
Increasing Demand For Refined Products Will Increase Oil Prices
Increasing Demand For Refined Products Will Increase Oil Prices In last week’s article I posted a chart from the International Energy Agency’srecent Oil Market Report that shows global demand for refined products catching up to supply by the 3rd quarter of this year. My opinion is that all of the analysts who are now blaming the sharp drop […]
Worldwide Drilling Productivity Report
Worldwide Drilling Productivity Report The EIA publishes what they call a Drilling Productivity Report in which they claim that each rig is getting more productive, that is each rig produces just a little more oil each month than it did the previous month. But over the long haul, I find that the exact opposite is true. In […]
U.S. Department of Energy: Our forecasts aren’t really forecasts (or are they?)
U.S. Department of Energy: Our forecasts aren’t really forecasts (or are they?) Put this in the category of things that can’t be true, but that are nevertheless affirmed with a straight face: The U.S. Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, does not issue forecasts, at least not long […]
EIA’s Short-Term Energy Outlook 2015 and 2016
EIA’s Short-Term Energy Outlook 2015 and 2016 The EIA has just released their Short-Term Energy Outlook for January. They have now included their predictions for 2016. Here is what they expect for US C+C. I have made the first projected production for December 2014 though the EIA says they have production data for December. All date is […]
Bakken, Let’s Do The Math
Bakken, Let’s Do The Math There has been considerable dispute over how many new wells required to keep production flat in the Bakken and Eagle Ford. One college professor posted, over on Seeking Alpha, figures that it would take 114 rigs in the Bakken and 175 in Eagle Ford to keep production flat. He bases his […]
US Sees Huge Energy Opportunity In Europe
US Sees Huge Energy Opportunity In Europe If 2015 is anything like 2014 we can expect a wild ride. Oil price volatility – including its downward trend – will linger well into the first and second quarters as global production persists and key conflicts in Eastern Europe and the Middle East show no end. For […]
Petroleum Truth Report: David Hughes Weighs In on The Fracking Fallacy Debate
Petroleum Truth Report: David Hughes Weighs In on The Fracking Fallacy Debate. In the current debate about the Nature article “The Fracking Fallacy,” the discussion has focused on estimates of cumulative production of shale gas plays by the Energy Information Administration (EIA) and The Bureau of Economic Geology at the University of Texas (UT/BEG). David Hughes provides another estimate in […]
Fracking Fracas: The Trouble with Optimistic Shale Gas Projections by the U.S. Department of Energy Post Carbon Institute
Fracking Fracas: The Trouble with Optimistic Shale Gas Projections by the U.S. Department of Energy Post Carbon Institute. On December 3, 2014, Nature published “Natural Gas: The Fracking Fallacy”, which suggested that the forecasts of the Energy Information Administration (EIA) for four major U.S. shale gas plays were wildly optimistic, based on a comparison to forecasts for […]
Cheap Oil: Too Much Of A Good Thing? | Jaya Bajpai | LinkedIn
Cheap Oil: Too Much Of A Good Thing? | Jaya Bajpai | LinkedIn. The 40% drop in oil prices over the past 6 months has garnered a lot of attention recently, most of it focused on the economic stimulus lower oil prices should provide the global economy, the impact on currency and fixed-income markets and […]
The 2014 Oil Price Crash Explained | Energy Matters
The 2014 Oil Price Crash Explained | Energy Matters. In February 2009 Phil Hart published on The Oil Drum a simple supply demand model that explained then the action in the oil price. In this post I update Phil’s model to July 2014 using monthly oil supply (crude+condensate) and price data from the Energy Information Agency (EIA). This model explains how a drop […]
How Low Can the Price of Oil Plunge? | Wolf Street
How Low Can the Price of Oil Plunge? | Wolf Street. It is possible that a miracle intervenes and that the price of oil bounces off and zooms skyward. We’ve seen stocks perform these sorts of miracles on a routine basis, but when it comes to oil, miracles have become rare. As I’m writing this, […]
The Peak Oil Crisis: A Reality Check Post Carbon Institute
The Peak Oil Crisis: A Reality Check Post Carbon Institute. For the last four or five years, we have been bombarded with a stream of stories about the “shale revolution.” Horizontal drilling and fracking, mostly in the U.S., were said to have released oceans of new oil and a virtually endless supply of natural gas. […]
