[ROCKMAN]

I don't want to discourage posting all the pretty and occasionally battling charts but stating simple (and unarguable) %'s is a pretty easy way to make the same point. Easier on old eyes like mine. For instance what was the percentage increase in US production? What % has the US shales increased global production. Etc. Etc.

No scales required. Pretty difficult to use scale games to obscure the facts since we all use the same base ten counting system...at least I hope we do.

[AirlinePilot]

Its a common misconception and often an intentional obfuscation to talk about the "Shale boom".

While the increases are locally important (in the US), the overall picture of oil production is seldom talked about. The ONLY CONTEXT is global production. Yes its great for our economy and it has positive effects on the industry HERE, but the reality is that those charts tell the ONLY STORY we should all be paying close attention to.

That story is GLOBAL PRODUCTION. Period. Oil is sold on a Global market and understanding this in light of ever increasing prices and a nearly stagnant GLOBAL production picture is the only thing we should be attempting to pin down. The FACT that tight oil in the US makes up for such a small amount of the daily global number is lost on just about everyone who cannot see it in the light of the global picture.

Its almost become a meme for goodness sake..No worries!!! Shale growth will save us! I agree with the previous poster who hit the nail on the head with the comment that Peak will be on the menu again very soon once the Shale Boom begins the inevitable cessation of the rocket shot in growth. Just a matter of time and we are going to be wondering how our economies both at home in the US and abroad can manage any sort of real growth with such high prices for crude.

[Pops]

$this->bbcode_second_pass_quote('John_A', '')$this->bbcode_second_pass_quote('Pops', '&')quot;Blew it away!"

snort

[ROCKMAN]

AP - "Yes its great for our economy..." Actually I think one can make a valid argument for just the opposite. OTOH it does decrease our oil trade deficit if you only count bbls and not $'s. While importing fewer bbls but shipping many more $'s overseas than 10 years ago. And 10 years or so ago the US oil consumers were paying about $650 million per day for all the oil they bought. Now, thanks to the increased price of oil that created the "shale boom" they are spending about $1.7 trillion per day. Of course, you don't hear me complaining...is everyone else here enjoying the change as much as me? LOL.

[John_A]

Everyone is entitled to their own opinion. And I notice that no one can refute the FACT as stated by someone with far more experience in this regard than anyone else on this board. Obviously his $100 million budget lends more than a little credibility to him knowing more than us amateurs, good scales, bad scales, or burning need to avoid why when "terminal decline" isn't, the preferred method of fighting back is to recycle all the same ideas which said such increases couldn't happen in the first place, let alone be spoken about by the experts in this way.

$this->bbcode_second_pass_quote('', 'E')IA Administrator Adam Sieminski explained in a conference call to reporters on Tuesday, “That is the largest single-year growth in U.S. production all the way back to the drake oil well in Titusville, Pennsylvania in 1859.”


http://www.eagleenergycore.com/oil-prod ... s-history/

[Gordianus]

$this->bbcode_second_pass_quote('John_A', 'E')veryone is entitled to their own opinion. And I notice that no one can refute the FACT as stated by someone with far more experience in this regard than anyone else on this board. Obviously his $100 million budget lends more than a little credibility to him knowing more than us amateurs, good scales, bad scales, or burning need to avoid why when "terminal decline" isn't, the preferred method of fighting back is to recycle all the same ideas which said such increases couldn't happen in the first place, let alone be spoken about by the experts in this way.

$this->bbcode_second_pass_quote('', 'E')IA Administrator Adam Sieminski explained in a conference call to reporters on Tuesday, “That is the largest single-year growth in U.S. production all the way back to the drake oil well in Titusville, Pennsylvania in 1859.”


http://www.eagleenergycore.com/oil-prod ... s-history/

[Pops]

LOL, you won that one _A, mostly because no one is arguing the point as it is beside the point.

BTW, speaking of "going all the way back to Titusville", the annual average price of oil in real terms is also higher for longer than anytime - almost 3 years now. I guess ROCK mentioned that already, too bad he didn't use a pretty chart or I would have remembered.

[AirlinePilot]

A budget also does not mean you dont have an agenda. I always take folks opinions who are in positions of control/influence with a huge grain of salt. Honestly everyone here can be guilty of this at times, but my personal experience is that the cornies seem to be quite a bit more prone to cherry picking over the last few years.

Dont shoot the messenger I always say, but in the same breath, use some common sense in whose message you use and why.

[John_A]

$this->bbcode_second_pass_quote('Gordianus', '
')$this->bbcode_second_pass_quote('', 'E')IA Administrator Adam Sieminski explained in a conference call to reporters on Tuesday, “That is the largest single-year growth in U.S. production all the way back to the drake oil well in Titusville, Pennsylvania in 1859.”


http://www.eagleenergycore.com/oil-prod ... s-history/

[John_A]

$this->bbcode_second_pass_quote('AirlinePilot', 'A') budget also does not mean you dont have an agenda.