Tourmaline
Would a natural gas company be a good investment now? What company woul you recommend ? Thx
Would a natural gas company be a good investment now? What company woul you recommend ? Thx
Not the peak oil idiots again.....Now the question is will shale oil production ever revisit
or even exceed its previous high. And if it does it
might just end with another collapse of the oil price. I am
of the view that shale oil is an asset of strategic importance
to national energy security. Some regulation of the extraction
of shale oil should be beneficial to the U.S. economy in the long
run.
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SRSroco
Sept 17, 2016
The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance. Just a few years ago, the U.S. Energy Industry and Mainstream media were gloating that the United States was on its way to "Energy Independence."
Unfortunately for most Americans, they believed the hype and are now back to driving BIG SUV's and trucks that get lousy fuel mileage. And why not? Americans now think the price of gasoline will continue to decline because the U.S. oil industry is able to produce its "supposed" massive shale oil reserves for a fraction of the cost, due to the new wonders of technological improvement.
I actually hear this all the time when I travel and talk to family, friends and strangers. I gather they have no clue that the Great Bakken Oil Field is now down a stunning 25% from its peak in just a little more than a year and half ago:
The mighty Bakken oil field located in North Dakota reached peak production in December 2014 at 1.26 million barrels per day (mbd) and is now down to 942,000 bd. This decline is no surprise to me or to my readers who have been following my work for the past several years.
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According to the most recent EIA Drilling Productivity Report, the Eagle Ford Shale Oil Field in Texas will be producing an estimated 1,026,000 barrels of oil per day in September, down from a peak of 1,708,000 barrels per day in May 2015. Thus, Eagle Ford oil production is slated to be down a stunning 40% since its peak last year.
http://www.zerohedge.com/news/2016-09-17/death-bakken-field-has-begun-big-trouble-us?page=1
Yup.... same old story again and again.Not the peak oil idiots again.....