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New U.S. Record-Level Oil Production! Peak Oil Theory Disproven! Not.
New U.S. Record-Level Oil Production! Peak Oil Theory Disproven! Not. Well, I’m amazed and impressed. Tight oil production has pushed total United States petroleum output to more than 10 million barrels a day, a rate last seen almost a half-century ago. It’s a new U.S. record. Fifteen years ago I was traveling the world with […]
EIA’s Shocking U.S. Oil Production Predictions
EIA’s Shocking U.S. Oil Production Predictions Between 2010 and 2015, annual oil production in the U.S. grew by four million barrels per day (BPD). Production dipped in 2016, but then U.S. crude oil production again rose by 1.2 million BPD between January and December 2017, to levels that haven’t been seen since the early 1970s. […]
US Rig Count Soars Most In 10 Months As Production Hits Record High
US Rig Count Soars Most In 10 Months As Production Hits Record High US rig counts rose by 12 in the last week – the biggest rise since March 2017 – as the lagged crude price is sparking more drilling and in turn sending production surging to a new record high… just shy of Saudi […]
Why The U.S. Can’t Be Called A ‘Swing Producer’
Why The U.S. Can’t Be Called A ‘Swing Producer’ Daniel Yergin and other experts say that U.S. tight oil is the swing oil producer of the world. They are wrong. It is preposterous to say that the world’s largest oil importer is also its swing producer. There are two types of oil producers in the world: those who […]
U.S. tight oil production decline
U.S. tight oil production decline U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated. Oil companies have cut back spending significantly in response to the fall in the price of oil. The number of rigs that are active in the main U.S. […]
Shale Gas Reality Check
Shale Gas Reality Check In October 2014, Post Carbon Institute published the results of what likely remains the most thorough independent analysis of U.S. shale gas and tight oil production ever conducted. The process of drilling for shale gas and tight oil is known colloquially as “fracking” and has drawn a great deal of controversy—considered […]
Oil wars: Shifting balance of power?
Oil wars: Shifting balance of power? What impact are lower global oil prices having on the world’s geopolitical landscape? Global oil policies are becoming ever more complex as suppliers balance their needs, priorities and self-interests. A period of low prices is redefining the geopolitical landscape, and bringing international relations into sharp focus. The price of crude […]
Oil Prices Don’t Change Because of Rig Count
Oil Prices Don’t Change Because of Rig Count Oil prices don’t change based on weekly rig count reports. Yet every week, there are proclamations by analysts that oil prices are poised to recover because of some change in the Baker Hughes North American rig count. Others state that U.S. tight oil production will continue to rise despite falling […]
What is Saudi Arabia not telling us about its oil future?
What is Saudi Arabia not telling us about its oil future? It is popular these days to speculate about why Saudi Arabia cajoled its OPEC allies into maintaining oil production in the face of flagging world demand. As the price the world pays for oil and oil products has plummeted, the price OPEC members are […]
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 […]
World on drip of unconventional oil
World on drip of unconventional oil. Currently lower oil prices due to a combination of increasing oil supplies and subdued demand come at a high cost to the environment and the climate. Additional oil supplies are exclusively from fracking tight oil in the US and from Canadian tar sands. Fig 1: Production of US tight […]
