Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on January 20, 2017
OPEC Faces Headwinds From Rising Non-OPEC Production
OPEC is facing headwinds with rising production from rivals, the International Energy Agency said Thursday, the latest warning that OPEC’s efforts to take barrels out of the market could backfire. The Organization of the Petroleum Exporting Countries—the 13-nation oil cartel that controls over a third of global crude production—promised to…
5 Comments on "OPEC Faces Headwinds From Rising Non-OPEC Production"
Antius on Fri, 20th Jan 2017 9:18 am
WSJ is pay per view, so I can’t read the article.
But where exactly does this ‘rising’ non-OPEC production come from? 81% of producing countries are past peak world wide. This includes all European production, US & Canadian conventional production, Chinese production, Russian production. US shale oil has some of the highest production costs on the planet and is only surviving due to low interest rates.
penury on Fri, 20th Jan 2017 11:10 am
Did you read the latest propaganda? The Permian is about to become another Bakken only better and much more productive.
shortonoil on Fri, 20th Jan 2017 3:11 pm
“Did you read the latest propaganda? The Permian is about to become another Bakken only better and much more productive.”
Not being as deep as a lot of the Bakken it is for the most part better quality oil. It is still a shale play with low production rates, and horrific decline rates. Its low permeability requires high cost horizontal drilling and fracking. This is not cheap oil no matter how one tries to cut it. Like with the other shale plays the industry is proclaiming it to be profitable. Like the other shale plays they are considering only first year production. In five years they are stripper wells, and the only way to keep production up is to drill, drill, drill. The last $trillion spent on shale will never pay for itself. There is not much chance that this will either.
BobInget on Sat, 21st Jan 2017 12:05 pm
Trump signs exec order
Minutes after his inaugural parade finished on Jan. 20, President Donald Trump got to work and placed a regulatory freeze on all federal agencies.
“The Trump administration will send a letter to all executive agencies tonight to immediately abide by a regulatory freeze,” White House press secretary Sean Spicer told reporters, according to the Washington Examiner.
The freeze will remain until Trump’s team says otherwise.
BobInget on Sat, 21st Jan 2017 12:14 pm
When Taliban overreached in Afghanistan they met popular resistance and a 16 year war.
When al Qaeda did the same in Iraq, AQ ended up fighting for survival.
ISIS , father of all overdoing will soon be reduced to loose bands of terrorists .
Most obvious in Egypt ‘The Muslim Brotherhood’
was replaced by yet another military dictatorship.
The current Trump administration takes no notice of history, current or past.