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Tag Archives: shale oil
Leaked Document Could Shatter UK Shale Dreams
Leaked Document Could Shatter UK Shale Dreams U.K. Prime Minister David Cameron’s hopes for a British-style shale gas revolution recently took a major hit. Cameron has promised that his government will be “going all out” to develop Britain’s shale gas resources, which he argues will create new jobs and cut dependence on imported gas. But a committee […]
‘The Drop in Oil Price Means We Need More Action on Climate Change Not Less’
‘The Drop in Oil Price Means We Need More Action on Climate Change Not Less’ This month, a powerful article in Nature highlighted yet again that most of the world’s oil, coal and gas needs to stay in the ground, if we want to prevent dangerous climate change. This is the “unburnable carbon” analysis that President Obama and Bank […]
Failing Stimulus And The IMF’s New ‘Multilateral’ World Order
Failing Stimulus And The IMF’s New ‘Multilateral’ World Order My theme for 2015 has been the assertion that this will be a year of shattered illusions; social, political, as well as economic. As I have noted in recent articles, 2014 set the stage for multiple engineered conflicts, including the false conflict between Eastern and Western […]
40 % of US petroleum product exports didn’t grow since 2011
40 % of US petroleum product exports didn’t grow since 2011 This is another post in the series on how US tight oil has impacted on global oil markets. This time we look at US petroleum product exports. (1) Destination of US product exports Fig 1: US petroleum product exports by destination and type of growth […]
Tight Oil Production Will Fade Quickly: The Truth About Rig Counts
Tight Oil Production Will Fade Quickly: The Truth About Rig Counts U.S tight oil production from shale plays will fall more quickly than most assume. Why? High decline rates from shale reservoirs is given. The more interesting reasons are the compounding effects of pad drilling on rig count and poorer average well performance with time. Rig […]
The most important thing to understand about the coming oil production cutbacks
The most important thing to understand about the coming oil production cutbacks What the current oil price slump means for world oil supply is starting to emerge. “Layoffs,” “cutbacks,” “delays,” and “cancellations” are words one sees in headlines concerning the oil industry every day. That can only mean one thing in the long run: less […]
HYPE, BROKEN PROMISES AND SHALES
HYPE, BROKEN PROMISES AND SHALES The term shale revolution has been used so much that it almost has no meaning anymore. But were shales ever really the energy panacea promised or merely a self styled hype machine? Would the frenzy in drilling ever have truly taken off if it weren’t for cheap money? These are […]
Iraq Shrugs Off Low Prices, Boosts Output To Record Levels
Iraq Shrugs Off Low Prices, Boosts Output To Record Levels Despite oil prices at their lowest levels in five years, Iraq is producing at record levels. For the month of December, Iraq produced nearly 4 million barrels per day, according to Oil Minister Adel Abdul Mahdi, an all-time high for the war-torn country. That is critical for […]
12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs
12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs The gravy train is over for oil workers. All over North America, people that felt very secure about their jobs just a few weeks ago are now getting pink slips. There are even some people that I know personally that this has […]
On to Plan B as Oil Work Stalls in Texas
On to Plan B as Oil Work Stalls in Texas MIDLAND, Tex. — With oil prices plummeting by more than 50 percent since June, the gleeful mood of recent years has turned glum here in West Texas as the frenzy of shale oil drilling has come to a screeching halt. Every day, oil companies are decommissioning rigs and announcing layoffs. Small […]
Gail Tverberg: This Is The Beginning Of The End For Oil Production
Gail Tverberg: This Is The Beginning Of The End For Oil Production Why the shale collapse is ushering in a permanent turndown With the recent collapse in the price of oil, Gail Tverberg, returns to discuss the likely impact on the US shale oil industry, as well as the global market for oil. Gail is a professional […]
New—and Worrisome—Contaminants Emerge From Oil and Gas Wells
New—and Worrisome—Contaminants Emerge From Oil and Gas Wells Researchers find alarming levels of ammonium and iodide in fracking wastewater released into Pennsylvania and West Virginia streams. Two hazardous chemicals never before known as oil and gas industry pollutants – ammonium and iodide – are being released into Pennsylvania and West Virginia waterways from the booming […]
Tight oil boom can explain only part of drop in US oil product imports
Tight oil boom can explain only part of drop in US oil product imports We continue to look at what impact US tight oil has on global oil markets, in this post the reduction of US petroleum product imports. This analysis shows that only around one quarter of a drop of 1.7 mb/d since 2005/06 […]
The Scariest Chart For America’s Shale Industry
The Scariest Chart For America’s Shale Industry Back in early November, when we posted “If WTI Drops To $60, It Will “Trigger A Broader HY Market Default Cycle“, it was greeted with the usual allegations of conspiracy theorism, tin-foil hattery and pretty much everything else, except rebutting facts. Two months later, it was none other […]
North Dakota county feels Bakken boom ebb away as oil falls
North Dakota county feels Bakken boom ebb away as oil falls (Reuters) – Just over a decade ago, this sleepy farming community on the fringe of North Dakota’s Bakken shale formation hosted the state’s first horizontal oil well to be hydraulically fractured, or fracked, helping set in motion an economic revolution that shook the world. […]
