What ever happened to Peak Oil?

[Gallo]

Energy Oracle Says U.S.-Canada Oil Independence Five Years Off

Five years from now, U.S. and Canadian oil supplies will outstrip projected demand, says a new report from Citigroup analyst and respected commodity prognosticator Edward Morse. While fracking continues to ramp up domestic oil and gas production, demand for oil is waning as the U.S. shifts to cheap natural gas and makes strides in efficiency. As CNBC tells us, ”In the past six years, oil imports into the United States have been cut in half, after peaking in 2006.”

As the U.S. energy future brightens, the petro-states’ prospects dim:

The shift could sharply reduce the price of oil, and therefore limit the revenues of the producing nations of OPEC, as well as Russia and West Africa.

“OPEC will find it challenging to survive another 60 years, let alone another decade,” the report [said].

But while shale is making new winners and losers in the energy world, the U.S. still needs smart policy to ensure that the boom doesn’t go bust:

To realize this production boom, the energy industry’s near-term challenge is moving the U.S. and Canadian oil that is locked in the heart of the continent because of insufficient pipeline transportation. [...]

Over half of the oil coming down from North Dakota has to travel by train because of a lack of pipelines. Investments in energy infrastructure will keep this revolution rolling, making the U.S. stronger, richer, and safer.

http://blogs.the-american-interest....s-u-s-canada-oil-independence-five-years-off/​

 

[Domingo Halliburton]

what do you guys want 100 train accidents every couple years or a pipeline?

 

[TLR Is Mental Poison]

I just read an article in Businessweek about how a lot of these frack holes are turning up to not yield what we thought they would. Output dropping off 70% in the first year and shyt. I'm too lazy to search

 

[pumpypower]

Here's one link:

http://shalebubble.org/

 

[Amestafuu (Emeritus)]

I just read an article in Businessweek about how a lot of these frack holes are turning up to not yield what we thought they would. Output dropping off 70% in the first year and shyt. I'm too lazy to search

On top of that they severely damage the environment and use a absurd amount of water.

It's a loose loose situation with fracking

 

[TNOT]

Energy Oracle Says U.S.-Canada Oil Independence Five Years Off

Five years from now, U.S. and Canadian oil supplies will outstrip projected demand, says a new report from Citigroup analyst and respected commodity prognosticator Edward Morse. While fracking continues to ramp up domestic oil and gas production, demand for oil is waning as the U.S. shifts to cheap natural gas and makes strides in efficiency. As CNBC tells us, ”In the past six years, oil imports into the United States have been cut in half, after peaking in 2006.”

As the U.S. energy future brightens, the petro-states’ prospects dim:

The shift could sharply reduce the price of oil, and therefore limit the revenues of the producing nations of OPEC, as well as Russia and West Africa.

“OPEC will find it challenging to survive another 60 years, let alone another decade,” the report [said].

But while shale is making new winners and losers in the energy world, the U.S. still needs smart policy to ensure that the boom doesn’t go bust:

To realize this production boom, the energy industry’s near-term challenge is moving the U.S. and Canadian oil that is locked in the heart of the continent because of insufficient pipeline transportation. [...]

Over half of the oil coming down from North Dakota has to travel by train because of a lack of pipelines. Investments in energy infrastructure will keep this revolution rolling, making the U.S. stronger, richer, and safer.

http://blogs.the-american-interest....s-u-s-canada-oil-independence-five-years-off/​

I wish BOEME would hurry up and open up the Eastern Gulf of Mexico for drilling leases.

I don't know much about land drilling or natural gas for that matter, all my work centers around drilling deepwater wells in the Gulf of Mexico. Business is booming and will be for quite sometime.

Domingo Halliburton what do you do for big red?