[onlooker]

I heard the term stagflation. Describing a combination of inflation with a stagnant or depressed Economy

[ROCKMAN]

Sparky - "Harold Hamm...just made a cool 3 billions dollar nominal". Actually he didn't "make" money...the value of his stock increased. And another way of stating the same stat: Hamm has now only lost $7 billion instead of the $10 billion in stock value as a result of the oil price collapse. LOL.

And he don't sweat much for a fat guy.

[ROCKMAN]

And an update on how the Hamboy's company is doing these days:

"For the third quarter, Continental said its net production was about 5 percent lower than the second quarter and 9 percent lower year-on-year. Most of the decline came from North Dakota. Continental reported a net loss of $109.6 million, a loss that's 33 percent greater than the loss from third quarter 2015. In August, the company sold off some of its assets in and around the Bakken area for about $600 million in a move Hamm said helped reduce debt and strengthen the balance sheet."

Selling $600 million in oil production in depressed market: a sign of desperation that doesn't match his proclaimed optimism of future oil prices.

[sparky]

.
Love the oil industry , fortune belong to the brave , until the road runner discover an interesting fact
......Gravity suck !

it's like farming in Australia ,watch helplessly as all your efforts wither , then pick yourself up , shake the dust of your face and go for it again ..and again

[ROCKMAN]

Sparky - "like farming in Australia" A very old joke: a mid west farmer wins $5 million in the lottery. Asked his plans: "Just keep putting it into the farm until its all gone and we're struggling again."

[rockdoc123]

$this->bbcode_second_pass_quote('', 'S')elling $600 million in oil production in depressed market: a sign of desperation that doesn't match his proclaimed optimism of future oil prices.

[Subjectivist]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('onlooker', 'I') heard the term stagflation. Describing a combination of inflation with a stagnant or depressed Economy

[onlooker]

I know my home state NY was really bad during the 70"s. Incidentally, Trump was instrumental in the the revitalization process by buying up run down and derelict lots and properties and converting them into high end properties

[AdamB]

$this->bbcode_second_pass_quote('', '
')In 1846, the US was the behemoth of the whaling industry, with Nantucket Island and New Bedford, Massachusetts its twin capitals. Demand for whale oil, as industrial lubricants or as fuel for heating and lighting, had driven the growth of the whaling industry by a factor of fourteen since 1816. New Bedford had the highest per capita GDP in the world. Yet within two decades, the industry that had contributed over $227 million per year to the GDP of the US (when adjusted for inflation) was dying. Growing demand from Europe first for coal oil and then kerosene replaced demand for whale oil. New Bedford diversified to textiles and light industrial manufacturing thanks to its easier access to railroads, while Nantucket collapsed as its population moved ashore as whaling expeditions declined. Over a century later, the global energy and transportation industries are

[onlooker]

The Oil Industry is also dying From its own growing inadequacy and the need and desire of our species to stop poisoning itself with FF and not delay longer preparing for it's inevitable demise

[AdamB]

$this->bbcode_second_pass_quote('onlooker', 'T')he Oil Industry is also dying From its own growing inadequacy and the need and desire of our species to stop poisoning itself with FF and not delay longer preparing for it's inevitable demise

[Tanada]

Place your bets; PLACE your bets!

[KaiserJeep]

Define "Oil", then define "Oil Peak", and I'll be glad to bet.

Once upon a time, I thought I understood both terms. Now the more I learn about the subject, the less certain I am.

[ralfy]

Around four decades ago unless it went up after 2013.

[AdamB]

$this->bbcode_second_pass_quote('', '
')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. The surge in production is a result of growth in tight oil (more commonly known as shale oil). Many, including myself, never imagined that oil production could grow enough to threaten the U.S. oil production peak from 1970. But that looks inevitable at this point. This production increase raises the question: Just how much will U.S. tight oil production increase before it peaks and begins to decline? Another million BPD? Three million BPD? The Energy Information Administration's latest Annual Energy Outlook (with projections to 2050) attempts to answer this question, modeling several scenarios for future oil

[Darian S]

Say U.S could double its current output. IF it is mostly tight oil won't most of this new oil drop to around 10% production within years?

What caused the shale revolution, why didn't it start earlier? Was there some revolutionary technological advance that allowed it? Or was it easily possible in prior decades but was not done so because it wasn't that economical nor long lasting? Perhaps a sufficient drop in U.S production finally justified it as a last hurrah.

[KaiserJeep]

All of the above.

[AdamB]

$this->bbcode_second_pass_quote('Darian S', '
')What caused the shale revolution, why didn't it start earlier?

[spike]

I would recall the NETL report that Robert Hirsch co-authored, to be found here:
https://www.netl.doe.gov/publications/o ... g_NETL.pdf
He has a table of predictions of peak. Most are now past.

[ralfy]

Production per capita is more logical.