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Page added on June 14, 2018
Permian Oil Production To More Than Double By 2023
A new report by research firm IHS Markit says oil production from the Permian Basin of West Texas and New Mexico could more than double by 2023.
The report predicts “stunning” growth, saying about 41,000 new wells could increase production from the nation’s top oilfield by almost three million barrels per day in the years ahead.
As U.S. oil imports have declined since a peak in 2006, and with refiners preferring a different type of oil than what’s coming out of the Permian boom, Texas is poised to increasingly fuel other countries.
“Basically you can take it as a given that every new drop of oil that’s produced has to be exported,” said Raoul LeBlanc, a top energy analyst at IHS Markit.
Oil companies are rushing to build more pipelines to move all the new oil to the Gulf Coast, where it will be increasingly exported to growing economies like China, already the second-largest customer for U.S. oil behind Canada.
“It’s going to make us the third or fourth largest exporter [of oil] in the world within a few years,” LeBlanc said.
The Port of Corpus Christi is in the midst of a $350 million effort to deepen and widen its ship channel, which would make room for massive oil export tankers that can’t currently navigate most U.S. ports. The port recently secured almost $23 million from the U.S. Army Corps of Engineers for that project.
LeBlanc said the anticipated production growth in the Permian will be driven by fracking and rising demand from around the world. Drillers are also responding faster to jumps in oil prices than ever before, he said.
103 Comments on "Permian Oil Production To More Than Double By 2023"
MASTERMIND on Fri, 15th Jun 2018 12:20 pm
Juanp
Existing oil reserves are scheduled to begin a catastrophic crash within 1 to 3 years. When it hits the economic and social damage will be catastrophic. The end of Western Civilization, from China to Europe, to the US, will not occur when oil runs out. The economic and social chaos will occur when supplies are merely reduced sufficiently….
https://imgur.com/a/6dEDt
https://arxiv.org/pdf/1708.03150.pdf
https://www.scientificamerican.com/article/has-peak-oil-already-happened/
http://www.sciencedirect.com/science/article/pii/S0301421509001281
https://www.scribd.com/document/375110698/The-end-of-Peak-Oil-Why-this-topic-is-still-relevant-despite-recent-denials-Chapman-2014
https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Country-Mohr-2015
http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
http://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017
MASTERMIND on Fri, 15th Jun 2018 12:21 pm
We live in frightening times. It’s my belief that “you personally” will most likely die of starvation or conflict between 2020 to 2040
You will experience a collapse of human civilization, a die-off of humans, a destruction of the ecosystem, a loss of access to mined and drilled resources, and a dark age from which your descendent’s will not reemerge.
Simple really….when the World Economy Collapses everything shuts down…the end… We’re talking about grids down all over the world and 7.5B people dropping like f*** flies in short order. The collapse will be absolutely horrible..There is no collapse or horror movie ever produced that has even come close to imagining what the collapse of BAU might look like. I’m talking about every corporation and every social program going bankrupt at once. I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind. Nothing has ever, or will ever come close…
Sleepwalking Into The Next Oil Crisis
https://www.forbes.com/sites/rrapier/2018/03/23/is-the-world-sleepwalking-into-an-oil-crisis/#509edc8b44cf
According to the German Army leaked study. When the oil shortages hit, Wall street will crash, the public will lose all faith/trust in their institutions, and the global economy and world governments will collapse..
http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
Scientific American: Apocalypse Soon: Has Civilization Passed the Environmental Point of No Return?
https://www.scientificamerican.com/article/apocalypse-soon-has-civilization-passed-the-environmental-point-of-no-return/
Inside the new economic science of capitalism’s slow-burn energy collapse (Ahmed, 2017)
https://medium.com/insurge-intelligence/the-new-economic-science-of-capitalisms-slow-burn-energy-collapse-d07344fab6be
Peer Reviewed Study: Society Could Collapse In A Decade, Predicts Historian (Turchin, 2010)
https://www.nature.com/articles/463608a
NASA Peer Reviewed Study: Industrial Civilization is Headed for Irreversible Collapse (Motesharrei, 2014)
http://www.sciencedirect.com/science/article/pii/S0921800914000615
The Royal Society: Peer Reviewed Study, Now for the First Time A Global Collapse Appears Likely (Ehrlich, 2013)
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3574335/
Peer Reviewed Study: Limits to Growth was Right. Research Shows We’re Nearing Global Collapse (Turner, 2014)
https://www.scribd.com/document/379418787/Is-Global-Collapse-Imminent-An-Updated-Comparison-of-The-Limits-to-Growth-with-Historical-Data-Turner-2014
Peer Reviewed Study: Financial System Supply-Chain Cross-Contagion: Global Systemic Collapse (Korowicz, 2012)
http://www.feasta.org/wp-content/uploads/2012/06/Trade-Off1.pdf
GregT on Fri, 15th Jun 2018 12:29 pm
“Financial catastrophe resulting from resource depletion and a debasement of value of fiat currencies.”
Then now would be a good time to diversify your portfolio. I already have. And all of the resources that I could ever need, are in the hundreds of thousands of hectares of wilderness that surround my home. How about you MM? Are there enough resources in your immediate vicinity, to support your local population when the JIT delivery systems fail?
“Then a 3-month window of tyranny and government lockdown on citizens, followed by a 3-month window of absolute carnage and death.”
As mentioned before, Canada does not have the same military means to lock down it’s citizens as the U.S. does. I would be moving somewhere else if I were you.
“Then, a period of about 6 months of slow die-off and that’s pretty much that. Oh, and starting sometime within the next 5 years or so…”
I would expect the die off to last a little longer than 6 months. The goons should be able to pillage enough from your local neighbourhood, to keep them going for at least several decades.
MASTERMIND on Fri, 15th Jun 2018 12:30 pm
The End of the Oil Age is Imminent!
Recently, the HSBC oil report stated that 80% of conventional oil fields were declining at a rate of 5-7% per year. This means that there will be an oil shortage of ~30 million barrels per day by 2030 and ~40 million barrels per day by 2040.
http://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017
What is mentioned far less often is that annual oil discoveries have lagged annual production since the 1980s.
https://imgur.com/a/6dEDt
Now, this problem has nothing to do with the recent decline in the oil price, which started in 2014. This has been an on-going problem for the past 30 years. Now, the IEA is predicting oil shortages by ~2020 due to declining exploration.
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000
Here, the IEA blames this problem on the low oil price. But, this problem started in the 1980s. The problem is geological: we are running out of conventional cheap oil. Shale and tar sands are not the answer, either. Those resources are far too expensive, compared to conventional oil, because the global economy is based on cheap conventional oil. Expensive oil is not a replacement for cheap oil.
Based upon the HSBC report and the IEA, the End of Oil Age will start around ~2020: there will be a dramatic economic depression due to exhaustion of cheap oil. This will cause a global economic collapse.
MASTERMIND on Fri, 15th Jun 2018 12:38 pm
Greg
When the supplies run out..farms and preppers houses will be the targets everyone looks for..Including any world governments..
what if the US sends some troops to where you are to raid all of your supplies and bring them back to America? Or they want to take over your location and use it as a hide out for the elites? I am sure you are easily spotted via google earth..
just saying..
GregT on Fri, 15th Jun 2018 12:47 pm
“what if the US sends some troops to where you are to raid all of your supplies and bring them back to America?”
Now you’re just being stupid again MM. The supplies that I have here, wouldn’t even support the effort required to get here, let alone the effort to get them back to America. That would be a complete waste of time, and energy.
GregT on Fri, 15th Jun 2018 12:52 pm
And MM,
There are already numerous elite American hide outs, all up and down the BC coast. They have built private airstrips, hydro generation facilities, golf courses, and even one small community that I am aware of. And even those compounds would be a complete waste of time for anybody to expend the effort to get to.
Cloggie on Fri, 15th Jun 2018 12:53 pm
I made a manifesto of collapse..Karl Marx ain’t got shit on MM..
You constantly post your co-tribalist Carl Sagan and his remark “extraordinary claims need extraordinary evidence”.
Why don’t you ever live up to that?
Anonymous on Fri, 15th Jun 2018 12:54 pm
US oil production and Permian production have consistently beaten peaker skepticism. Maybe peakers need to learn from past bad predictions and adjust their methods. Not just keep repeating mistakes.
Davy on Fri, 15th Jun 2018 1:17 pm
Grehggie, then why do you and your extremist groupies try to pressure the debate with a variety of tactics to remove those you don’t like and attract other extremist? You are just pretending you seek an open and honest forum. Your goal is to own the board not free and fair debate.
JuanP on Fri, 15th Jun 2018 1:23 pm
Davy “Grehggie, then why do you and your extremist groupies try to pressure the debate with a variety of tactics to remove those you don’t like and attract other extremist? You are just pretending you seek an open and honest forum. Your goal is to own the board not free and fair debate.”
The board’s # 1 delusional American exceptionalist keeps projecting his behavior onto others proving once more that he is a deeply disturbed individual living in denial. Every comment you post, Davy, proves how frigging insane you are, pussy!
JuanP on Fri, 15th Jun 2018 1:25 pm
Did you go to visit your goats, exceptionalist? LOL!
JuanP on Fri, 15th Jun 2018 1:27 pm
Davy, you are the main reason why this forum has been extremely polarized for years. Your total incapacity to see that is a symptom of your multiple psychiatric disorders.
JuanP on Fri, 15th Jun 2018 1:29 pm
I will put it in plain English and all caps to make it easier for you to understand: YOU ARE FUCKING INSANE!
GregT on Fri, 15th Jun 2018 1:41 pm
“Grehggie, then why do you and your extremist groupies try to pressure the debate with a variety of tactics to remove those you don’t like and attract other extremist?”
More of your usual paranoid delusions Davy.
Just because you do not subscribe to other people’s points of view, does not make them ‘extremists’. With that logic, you not subscribing to their points of view, would make you an extremist.
Duncan Idaho on Fri, 15th Jun 2018 2:23 pm
“Facts are stupid things.”
— Ronnie Reagan, 1988
(misquote of John Adams: ‘Facts are stubborn things.’)
Davy on Fri, 15th Jun 2018 2:35 pm
Come on grehggie, you and Your groupies are extremist who fall into the intellectually weak rut of conspiracies and ultra-nationalism IOW ugly anti-Americans. That qualifies you as extremist. When you congregate in attack parties to pounce on those you disagree with that is a sure sign of bad behavior parading as respectable. Your groupies say so, so it is. I am here to rain on your parade and it is working. I make you eat your lies and I rub your false reality in your face. As long as I am here you will never have freedom to say as you please. I will moderate you and neuter your lies.
GregT on Fri, 15th Jun 2018 3:24 pm
You are not rubbing anything in anybody else’s face Davy, you are not neutering anybody, and you are not moderating anybody.
My views and opinions are my own, as are everybody else’s. You have absolutely no say, or control, over what anybody else says, thinks, or believes.
Paranoid delusions on your part, nothing more.
Go and speak with a mental healthcare professional. You are clearly not sane.
Anonymouse1 on Fri, 15th Jun 2018 3:28 pm
What a nutcase, you’d think he would have given up on those imagined ‘neuterings’ of his by now, but, he’s actually keeps doubling down on them.
Sad…
Davy on Fri, 15th Jun 2018 3:37 pm
Weasel, remember when I rubbed the American (Canadian) tar sands sham blame back in your face. I don’t see you try that anymore. Grehggie tried to come to your aid then I rubbed the same shit in his face. Pathetic CanAdians trying to pawn off their environmental sins on the US. Lol
GregT on Fri, 15th Jun 2018 3:42 pm
You didn’t rub shit in anybody’s face Davy, you have not ass kicked anybody, you have not neutered anybody, you have not moderated anybody, you have not pussy whipped anybody, and you have not stopped anybody else from expressing their own personal opinions.
Go and speak with a mental healthcare professional Davy. Your condition continues to deteriorate, and it isn’t going to get better without professional psychological help.
Davy on Fri, 15th Jun 2018 4:21 pm
Sure, I did grehggie, you and the weasel ate crow that day. It is amazing how high and mighty you stupid ugly Canadian extremist are. You whine, moan, and complain about the Americans but it is often the case you are complicit and accomplices in the sins you whine about. Take responsibility grehggie and man up to what part your people play in all those anti-American sins you are so fond of digging up.
MASTERMIND on Fri, 15th Jun 2018 4:29 pm
Areas Of The World More Vulnerable To Collapse
https://srsroccoreport.com/areas-of-the-world-more-vulnerable-to-collapse/
MASTERMIND on Fri, 15th Jun 2018 4:31 pm
Clogg
You like how I trolled you deniers with that Sagan quote!
MASTERMIND on Fri, 15th Jun 2018 4:34 pm
AP: About 2,000 minors separated from families
https://www.detroitnews.com/story/news/nation/2018/06/15/donald-trump-immigration-separation-policy/36073425/?csp=chromepush
This is how the holocaust got started.
https://imgur.com/a/UcUbemy
GregT on Fri, 15th Jun 2018 4:40 pm
I provided a link to you Davy with the breakdown of foreign ownership in the Alberta tar sands. You obviously refused to read it.
Here is an excerpt from the Financial Post:
Majority of oil sands ownership and profits are foreign, says analysis
http://business.financialpost.com/news/majority-of-oil-sands-ownership-and-profits-are-foreign-says-analysis
The Harper Government went after the Forest Ethics Advocacy Group, and their association is now tied up in law suits, and the itemized report has been removed from their web site.
Davy on Fri, 15th Jun 2018 4:46 pm
Grehggie, I never said there was no foreign ownership. Who profited from the sales, who works there, and which government gets revenue? Who’s nation are these reserves on? Yea, grehggie inconvenient questions for you and the ugly Canadian whiner weasel.
GregT on Fri, 15th Jun 2018 4:54 pm
“Who profited from the sales”
Majority of oil sands ownership and profits are foreign, says analysis
http://business.financialpost.com/news/majority-of-oil-sands-ownership-and-profits-are-foreign-says-analysis
And we weren’t talking about who worked there, which government collected take revenues, or which soil the reserves are on. We were talking about ownership and control.
GregT on Fri, 15th Jun 2018 4:54 pm
tax revenues.
Anonymouse1 on Fri, 15th Jun 2018 4:56 pm
No exceptionalturd, I don’t ‘remember’ anything of the sort. I tend to remember things that actually occur, in this reality, and not even in the alternate, whimsical, whatever I say goes reality, you inhabit.
Anonymouse1 on Fri, 15th Jun 2018 4:56 pm
*events*
Davy on Fri, 15th Jun 2018 5:20 pm
Inconvient questions for the ugly whiners who try to “but but” it away. Own up to your shit boys. Quit pushing off blame. Canadian oil sands are Canada’s. If foreign ownership is present it is after a Canadian made a profit selling their holdings. Canadians are working there and the government is milking it for tax dollars. Geez I can believe how stupid you two are! Come on grehggie man up. I know the millennial weasel can’t be a man but you could if you ever would be honest.
MASTERMIND on Fri, 15th Jun 2018 5:22 pm
When the oil shortage hits, we’ll probably see rich people jumping out the window on TV.
Anonymouse1 on Fri, 15th Jun 2018 5:34 pm
Wrong again as usual exceptionalturd, the only one that ‘remembers’ things like this, is you. And this is because, they only exist in your fanciful, alternate reality version of events. Just like like no one remembers or cares, about all these ‘victories’ and ‘battles’ you keep declaring yourself the victor of.
For example, even in the last few days alone, Im pretty sure you have told just about everyone you dislike how badly you keep ‘neutering’ them or, w/e. IF anyone could be bothered to try to find when, where and how these numerous victories of your took place, no would able to find any instance, or evidence, where something, or indeed anything like what you claim occurred.
The operative idea being, if anyone cared to even look.(they dont).
THere is a reason why, so many refer to you as ‘the delusionist’, you know, amoung other terms, lol. You don’t get a handle that by considered you know, a rational or grounded in reality type.
Dumbass.
Makati1 on Fri, 15th Jun 2018 5:42 pm
Davy chimes in with his usual bullshit, third grade putdowns and other meaningless posts.
Davy on Fri, 15th Jun 2018 5:48 pm
Weasel you are a stupid liar. Grehggiie already achnowledge the conversation. You just can’t stand having egg on your disfigured face, dumbass. Laughter
Davy on Fri, 15th Jun 2018 5:49 pm
There the 3rd world goes again flappin those dentures. 3rd world they are going to fall out and get all soiled.
Makati1 on Fri, 15th Jun 2018 5:59 pm
.Davy chimes in with his usual bullshit, third grade putdowns and other meaningless posts.
JuanP on Fri, 15th Jun 2018 6:55 pm
Davy “There the 3rd world goes again flappin those dentures. 3rd world they are going to fall out and get all soiled.”
More preK behavior from the board’s bully. My elementary school age nephews are more mature than you, exceptionalist. It is truly sad to see a grownup behave the way you do. If you had any decency you wouldn’t be able to look at yourself in the mirror. You are a truly repulsive human being.
JuanP on Fri, 15th Jun 2018 6:57 pm
Davy “Weasel you are a stupid liar. Grehggiie already achnowledge the conversation. You just can’t stand having egg on your disfigured face, dumbass. Laughter”
There goes the board’s bully once more!
Makati1 on Fri, 15th Jun 2018 6:59 pm
..Davy chimes in with his usual bullshit, third grade putdowns and other meaningless posts.
Davy on Fri, 15th Jun 2018 6:59 pm
just for you juan because you need something to do.
JuanP on Fri, 15th Jun 2018 7:03 pm
Davy “Sure, I did grehggie, you and the weasel ate crow that day. It is amazing how high and mighty you stupid ugly Canadian extremist are. You whine, moan, and complain about the Americans …”
More delusions from a very sick mind. You are so pathetic, exceptionalist! If you could see yourself the way the intelligent, reasonable, healthy people on this board see you, you would do humanity a favor and blow your fucking brains out this instant because you’d realize you are not worth the air you breathe.
Anonymouse1 on Fri, 15th Jun 2018 7:08 pm
Greg is acknowledging the actual version of events dumbass, not the dodgy, make-believe story, that you keep pulling out your arse.
Not that it has bearing on you, but, the uS does in fact, regard both Canada’s and Mexico’s resources, energy or otherwise, as de-facto amerikan possessions. The fact that both countries are ‘sovereign’, at least on paper, is of not really a major consideration in either Jew York or washingdum. Of course, this attitude in hardly confined to North America, not at all. The uS regime regards the entire world as its plantation, petrol-farm, and open pit mine, to fish, mine and harvest and drill according to corporate amerikas wishes and priorities.
JuanP on Fri, 15th Jun 2018 7:08 pm
Davy “just for you juan because you need something to do.”
Another delusion from a sick mind. I just got back from three hours of kayak fishing. I caught 5 Pompanos. I couldn’t pass up the opportunity because I noticed the water was great when I went swimming this morning.
I go swimming, you are bullying; I go farming, you are bullying; I go fishing, you are bullying; I have a life worth living; you are a worthless bully. Do you realize all the things you say happen only in your mind and you are completely insane?
Davy on Fri, 15th Jun 2018 7:12 pm
but but says the weasel…there you go weasel you finally admitted the conversation once put under the gun.
Makati1 on Fri, 15th Jun 2018 7:15 pm
Ahh…Davy chimes in with his usual bullshit, third grade putdowns and other meaningless posts.
GregT on Fri, 15th Jun 2018 7:20 pm
“Canadians are working there and the government is milking it for tax dollars. Geez I can believe how stupid you two are!”
The original conversation was about ownership and control Davy, not about who gets to work there, or tax revenue.
Get your head out of your ass.
Davy on Fri, 15th Jun 2018 7:28 pm
no it wasn’t grehaggie, it was about the weasel painting a picture of the big bad US owning the Canadian tar sands and poor widdle canada being raped and pillaged. cough cough. what lunatics
GregT on Fri, 15th Jun 2018 7:35 pm
“no it wasn’t grehaggie, it was about the weasel painting a picture of the big bad US owning the Canadian tar sands”
That was front page news Davy.