Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on July 23, 2018
US crude oil output hits 11 million barrels per day for first time ever
U.S. crude oil production last week hit 11 million barrels per day (bpd) for the first time in the nation’s history, the Energy Department said on Wednesday, as the ongoing boom in shale production continues to drive output.
The gains represent a rapid increase in output, as the data, if confirmed by monthly figures, puts the United States as the second largest producer of crude oil, just behind Russia, which was producing 11.2 million bpd in early July, according to sources.
“Eleven million would have made us the biggest producer in the world; but actually Russian production in June was above 11 million. So, this is kind of like the space race,” said Sandy Fielden, director of research in commodities and energy at Morningstar.
The United States has added nearly 1 million bpd in production since November, thanks to rapid increases in shale drilling.
“I don’t think production is plateauing at 11. It’s fully expected to grow beyond 11 – we won’t be topping out there,” said Scott Shelton, a broker at ICAP in Durham, North Carolina.
Crude inventories USOILC=ECI increased 5.8 million barrels in the week to July 13, compared with analysts’ expectations for a decrease of 3.6 million barrels.
Crude futures edged down on the data. U.S. crude CLc1 was down 55 cents to $67.51 a barrel, while Brent LCOc1 dropped 39 cents to $71.77 a barrel. The benchmarks have gained steadily since bottoming out below $30 a barrel in early 2016; U.S. crude is up nearly 12 percent this year.
Weekly production figures from the U.S. Energy Information Administration are notorious for revisions, as monthly data, released on a lag, shows U.S. production at 10.5 million bpd as of April.
In the last several weeks, the EIA has rounded off U.S. production to the nearest hundred thousand barrels, so that figure had been stuck at 10.9 million bpd for over a month.
This report comes amidst worries that infrastructure bottlenecks, which make it difficult for producers to get their oil to market, could soon start curtailing output.
Morgan Stanley analysts said recently that pipeline constraints could cap 2019 growth in west Texas. They said the Permian shale play has about 3.56 million bpd of pipeline capacity, about what is being produced there now.
Even as production ramps up, the United States, the world’s top oil consumer, still depends on imports. Net U.S. crude imports USOICI=ECI rose last week by 2.2 million bpd to about 9 million bpd.
Gasoline stocks USOILG=ECI fell by 3.2 million barrels, compared with analysts’ expectations for a 44,000-barrel drop.
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 371,000 barrels, versus expectations for a 873,000-barrel increase.
222 Comments on "US crude oil output hits 11 million barrels per day for first time ever"
MASTERMIND on Tue, 24th Jul 2018 2:30 pm
Sacha Baron Cohen Tricks Doofus Republican Into Screaming N-Word, Removing Pants
https://www.youtube.com/watch?v=pD5GL9O0OOI&feature=youtu.be
Only a conservaShiT could be so fucking stupid..Only fucking religious people could be so dumb..
Davy on Tue, 24th Jul 2018 2:38 pm
exceedingly noisy with a dumbass alert
MASTERMIND on Tue, 24th Jul 2018 2:41 pm
Brilliant work, such ignorance easily exposed.
JuanP on Tue, 24th Jul 2018 2:47 pm
Davy “exceedingly noisy with a dumbass alert”
Please stop insulting and disrespecting others. You are ruining the board for everybody else.
Sissyfuss on Tue, 24th Jul 2018 2:52 pm
Slightly OT but I came across our old buddy Apneaman posting on the Daily Impact recently and he was his old curmudgeonly self, attacking someone who questioned him for being so cantankerous. Also I found Shortonoil posting on Zero hedge. The old gang is alive and well populating the interverse.
Davy on Tue, 24th Jul 2018 2:54 pm
hilariously noisy
Davy on Tue, 24th Jul 2018 2:57 pm
Hey, sis, thanks for the update.
MASTERMIND on Tue, 24th Jul 2018 3:04 pm
Our planet is one big fireball
https://nypost.com/2018/07/24/our-planet-is-one-big-fireball/
JuanP on Tue, 24th Jul 2018 3:04 pm
Davy “hilariously noisy”
Please try to be respectful and stop bullying others.
Davy on Tue, 24th Jul 2018 3:14 pm
Noise noise everywhere noise noise
MASTERMIND on Tue, 24th Jul 2018 3:17 pm
US can’t produce enough oil to lower prices, IEA official tells senators
https://www.washingtonexaminer.com/policy/energy/us-cant-produce-enough-oil-to-lower-prices-iea-official-tells-senators
MASTERMIND on Tue, 24th Jul 2018 3:24 pm
Davy
Why do you stay here if you are too weak minded to handle information shared here? why don’t you go to disney.com where all the other little children are..And you can watch some cartoons.
JuanP on Tue, 24th Jul 2018 3:27 pm
Davy “Noise noise everywhere noise noise”
You are the one making noise, not me. Can you behave better out of respect for others or not?
Davy on Tue, 24th Jul 2018 3:29 pm
This is the noise to remember. Never a noise so grand
Davy on Tue, 24th Jul 2018 3:33 pm
BTW, mm, after I was rudely interrupted by bonehead, what color are you? Just curios so I can know your point of view.
MASTERMIND on Tue, 24th Jul 2018 3:34 pm
An alleged member of the Proud Boys, an alt-right group, was beaten during yesterdays Nia Wilson protest in Oakland.
https://twitter.com/Breaking911/status/1021783002827960320?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1021783002827960320&ref_url=http%3A%2F%2Fdailycaller.com%2F2018%2F07%2F24%2Fshock-video-proud-boy-beaten%2F
JuanP on Tue, 24th Jul 2018 3:43 pm
Davy “BTW, mm, after I was rudely interrupted by bonehead, what color are you? Just curios so I can know your point of view.”
Nobody interrupted you rudely. That is a lie. That is not even possible on this board. If MM didn’t reply to your question is because he didn’t read it or chose to ignore it. I, obviously, had nothing to do with it and you know it. My name is Juan, by the way, not bonehead. Please stop lying, insulting, and bullying others.
Davy on Tue, 24th Jul 2018 4:02 pm
More hilarious noise
Davy on Tue, 24th Jul 2018 4:04 pm
BTW, Boney Juan, you answered to your nickname. Lol
MASTERMIND on Tue, 24th Jul 2018 4:09 pm
Russia just showed off a potentially world-ending nuclear ‘doomsday’ torpedo that the US can’t stop
https://www.businessinsider.com/russia-shows-off-a-nuclear-doomsday-torpedo-that-the-us-cant-stop-2018-7
Get off your arse deep state and hit that fucker Putin where it hurts!
JuanP on Tue, 24th Jul 2018 4:19 pm
You are the one making noise, Davy, and you are not hilarious, you are not even funny. Please be respectful.
JuanP on Tue, 24th Jul 2018 4:23 pm
Davy “BTW, Boney Juan, you answered to your nickname. Lol”
I don’t have a nickname.
You just keep refusing to use other people’s names and inventing pejorative alternatives.
There is nothing funny about that, so what are you laughing at?
It is insulting and disrespectful.
JuanP on Tue, 24th Jul 2018 4:25 pm
Only you think you are funny.
I don’t see anyone else here laughing at your insults and bullying.
Are you laughing at yourself?
Davy on Tue, 24th Jul 2018 4:37 pm
Comedic noise
MASTERMIND on Tue, 24th Jul 2018 4:41 pm
Every sign is pointing to a Democratic wave in November
https://www.cnn.com/2018/07/24/politics/house-2018-midterms/index.html
Harquebus on Tue, 24th Jul 2018 5:13 pm
This achievement is more than countered by this.
“Put simply, America is on the verge of experiencing an absolutely catastrophic period of economic change, and it’s due mostly to its skyrocketing debt, which is the result of decades of reckless government spending—by both political parties.”
https://townhall.com/columnists/justinhaskins/2018/07/23/america-is-headed-for-fiscal-catastrophe–and-no-one-seems-to-care-n2502691
Will the tight oil industry enable U.S. debts to be repaid? Considering the effect of the relentless diminishing returns on energy production, no.
While debts continue to climb, any claims of success by the energy industry, renewable included, are bullshit.
Crudevscondensate on Tue, 24th Jul 2018 6:35 pm
“It won’t change the proven FACT that it’s absolutely necessary to blend with our heavy oil production and imports. Especially those of our largest source of imports…Canada. Our regulars already understand the role of BLENDED OIL in our refinery system. I’ve explained the supporting FACTS many times before so won’t waste more space on you now.”
This obscures the issue that pentanes plus production is about 400Mb/d which is ten percent of US crude oil production. Since the pentanes plus make up the bulk of condensates which are mixed with crude oils, condensate production adds very little to overall refinery production. Since condensates make up about 70% of shale production their inclusion in crude oil production statistics is very misleading.
GregT on Tue, 24th Jul 2018 7:15 pm
While debts continue to climb, any claims of success by the energy industry, renewable included, are bullshit.
It isn’t the number of barrels that matter, it is the cost to produces those barrels, and the energy available to the economy that matters.
Makati1 on Tue, 24th Jul 2018 7:22 pm
MM: “Why do you stay here if you are too weak minded to handle information shared here? why don’t you go to disney.com where all the other little children are..And you can watch some cartoons.”
Look in the mirror, hypocrite. You are no more mature than Davy.
Makati1 on Tue, 24th Jul 2018 7:42 pm
GregT, I totally agree. When they started counting any liquids that burn as oil, the jig was up*. It is NET energy per barrel that counts. All petroleum is not equal. Nor is adding “biofuel” to the mix. Or “liquid condensates”.
As you said, the cost will determine the amount available to the consumer. That is more important at this time than amounts left in the ground to recover. There will be billions of barrels that will remain in the ground after the last well is closed. The taper will likely follow a pattern something like this:
First prices will limit consumer use. Then the government will limit amounts you can buy. Then gasoline and diesel will be limited to commerce/business and government/military. Then just government/military. Then…
(*For unlearned here – “the jig is up”: The plan or scheme has been discovered and/or thwarted. M-W)
Davy on Tue, 24th Jul 2018 8:12 pm
“While debts continue to climb, any claims of success by the energy industry, renewable included, are bullshit.”
Debts are society wide so as long as society can hold together their economies the energy industry will be fine. It is no longer clear when debt will become unmanageable. Anyone who thinks they know that answer are just guessing. We are heading in the wrong direction with financial overshoot at all levels but the core is still holding. This could continue for a few years easily.
“It isn’t the number of barrels that matter, it is the cost to produces those barrels, and the energy available to the economy that matters.”
Both the number of barrels and the cost of those barrels matter. The oil industry is good at combining the good with the bad. While energy to the economy is critical at some point currently it appears not to be an economy killer yet.
Davy on Tue, 24th Jul 2018 8:15 pm
“You are no more mature than Davy.”
I put the two of you in the same category as extremist peddling a personal agenda. You both just come at it from different points of view. You are both toxic for the dissemination of the truth and are ruining this board.
Don Zenga on Tue, 24th Jul 2018 8:39 pm
If USA is producing 11 million b/d and Russia is producing 11.2 million b/d and Saudi Arabia 10.5 million b/d, that means everyone are maxing with the spare capacity dwindling down.
Let’s see whats going to happen.
JuanP on Tue, 24th Jul 2018 8:46 pm
Davy, You are the one ruining this board. Every time someone has an opinion you disagree with, you attack, bully, and insult them.
GregT on Tue, 24th Jul 2018 8:47 pm
“This could continue for a few years easily.”
That would be my guess, a few more years.
“While energy to the economy is critical at some point currently it appears not to be an economy killer yet.”
It’s all a confidence game now. Once confidence is lost, Katie bar the door. I give it until 2025, give or take a few years, then the mass killing spree will really kick in, in the US of A.
Davy on Tue, 24th Jul 2018 8:50 pm
deport boney juan
Makati1 on Tue, 24th Jul 2018 8:53 pm
Guys, I too hope it holds until 2025, but I doubt that it will. The Us is a powder keg just waiting to blow. What the match will be, and when, are the only questions, but 2025 seems too far out there to be possible. We shall see.
JuanP on Tue, 24th Jul 2018 9:02 pm
Davy “deport boney juan”
Your comment is nonsensical? People can’t deport themselves. You need to look up the meaning of the word deport. Also, you made FIVE grammatical errors in tn a three word sentence. That is an incoherent post.
Makati1 on Tue, 24th Jul 2018 9:16 pm
“Future historians may well identify Russian President Vladimir Putin’s landmark March 1 speech as the ultimate game-changer in the 21st-century New Great Game in Eurasia….
Martyanov carefully tracks how the only nation on the planet “which can militarily defeat the United States conventionally” has reacted to a situation where any “meaningful dialogue between Russia and America’s politicians is virtually impossible.”…
The United States’ industrial-military-intel-security complex profits from a compounded annual budget of roughly US$1 trillion. The only justification for such whopping expenditure is to manufacture a lethal external threat: Russia. That’s the key reason the complex will not allow US President Donald Trump even to try to normalize relations with Russia….
…that leads us to the holy of the holies concerning the favorite Beltway mantra, “Russian aggression.” Even as Russia “does have the capability to deal major damage to NATO,” as Martyanov reminds us, “why would Russia attack or damage European countries which are worth way more for Russia free and prosperous than they would be if damaged and, theoretically, subjugated?”
…then there was Russia’s campaign in Syria; on October 7, 2015, six 3M14 Kalibr cruise missiles were launched in intervals of five seconds from the Russian Navy’s small missile ships in the Caspian Sea, aimed at Daesh targets in Syria. The USS Theodore Roosevelt and its carrier battle group immediately understood the message – exiting the Persian Gulf in a flash…”
https://www.globalresearch.ca/heres-the-real-reason-the-us-must-talk-to-russia/5648478
“Martyanov goes all the way to explain how the latest Russian weapons systems present immense strategic – and historical – ramifications. The missile gap between the US and Russia is now “a technological abyss,” with ballistic missiles “capable of trajectories which render any kind of anti-ballistic defense useless.” Star Wars and its derivatives are now – to use a Trumpism – “obsolete.””
That 3AM wake-up flash is more possible now than ever. Slip slidin’…
GregT on Tue, 24th Jul 2018 9:32 pm
“deport boney juan”
So other than JuanP correctly calling you out on your constant bullying and abusive behaviour towards others on this forum Davy, in your deluded and sick little mind, why do you think that JuanP should be deported?
Makati1 on Tue, 24th Jul 2018 9:46 pm
Sleep uneasy in your beds America. Putin has you covered. LOL
“Russia has tested a new nuclear weapon that can hit anywhere on the globe and wipe out an area the size of Texas or France. The military footage shows the weapon of mass destruction in action during the latest round of testing.
According to The Daily Mail, Russia has claimed that the RS-28 Sarmat missiles are capable of striking targets via both the North and South poles and can carry more nuclear warheads than any other missile on the planet. Additionally, the RS-28 Sarmat missiles are able to deliver up to 24 of Russia’s new Avangard hypersonic gliders, each of which can carry its own nuclear payload.
The Avangard missiles currently travel at speeds of Mach 20 ( or 15,224 mph ) and there is no defense system on earth that is capable of stopping them. Once launched, the new weapon uses aerodynamics to sail on top of the atmosphere. It is capable of making sharp twists and turns on its way to targets, making it “absolutely invulnerable to any missile defense system,” reported the Daily Mail.”
http://www.shtfplan.com/headline-news/russian-nuclear-weapons-can-wipe-out-an-area-the-size-of-france_07242018
3AM? Slip slidin’…
MASTERMIND on Tue, 24th Jul 2018 9:55 pm
Madkat
According to the daily mail? They are a tabloid who is spreads fake news and gets sued for it all the time..And russia didn’t prove they have this weapon they are claiming to have it..
Your link just wants to scare people so they will buy some of their bulk food ads..
You are moron..
MASTERMIND on Tue, 24th Jul 2018 9:58 pm
Madkat
You are the doofus of this board…
Makati1 on Tue, 24th Jul 2018 10:46 pm
MM, I have read the same info on many other sites. That you deny is only that you are afraid they are correct. Maybe you should real Putin’s speech? Get an education, couch potato.
“Putin on Thursday described Russian missile capabilities that had been little-discussed publicly in Washington in recent years — cruise missiles equipped with nuclear-propulsion engines, giving them essentially unlimited range and the ability to follow an unpredictable flight path. To demonstrate the point, Putin showed a video animation of a missile launched in the Russian Arctic evading missile defenses as it crossed the Atlantic, rounded the southern tip of South America, and headed toward the United States.”
https://www.washingtonpost.com/world/europe/putin-claims-russia-has-nuclear-arsenal-capable-of-avoiding-missile-defenses/2018/03/01/d2dcf522-1d3b-11e8-b2d9-08e748f892c0_story.html?noredirect=on&utm_term=.7a15bcbcc636
“In his two-hour speech in a historic hall just outside the Kremlin walls, Putin claimed that late last year Russia had successfully tested a cruise missile that was propelled by a nuclear-powered engine. The missile will be able to fly close to the ground and follow an unpredictable flight path, rendering existing missile defenses “useless,” Putin said….
The 44 missile interceptor silos that the United States operates in Alaska and Hawaii and the Aegis and Thaad installations it operates with its allies in Asia and Europe would prove no match against a full-blown, multi-missile attack by a peer competitor such as Russia.”
3AM?
MASTERMIND on Tue, 24th Jul 2018 10:56 pm
Madkat
These are all baseless claims..
So yeah..
MASTERMIND on Tue, 24th Jul 2018 11:32 pm
Government handouts are bad unless i need them
https://i.redd.it/9ziar865myb11.jpg
MASTERMIND on Tue, 24th Jul 2018 11:50 pm
Will The Impending U.S. Economic Collapse Usher In Socialism?
https://seekingalpha.com/article/4189327-sentiment-speaks-will-impending-u-s-economic-collapse-usher-socialism
GregT on Wed, 25th Jul 2018 12:12 am
MM,
Not only is experience the best educator, it is the only educator.
Makati1 has been an American citizen for 54 years of his adult life, while you have a mere 10 years under your belt. Not only that, but Makati1 makes far more sense at 74, than you do at 30. You might consider pulling your little horn in a bit son.
print baby print on Wed, 25th Jul 2018 12:36 am
Russia has enough nukes wherever they explode the life on earth as we know it will be finished, so no need to argue about it . The war will be with Iran very soon if Iran doesent stop its ballistic program which is unlikely
Makati1 on Wed, 25th Jul 2018 12:36 am
GregT, MM is an immature snowflake. As you said, experience is the only way to really learn something. I can tell him that a stove is hot, but until he feels the heat, it is only someone else’ opinion. Ditto for living in another culture. You can only know how it works by living there. But, he and Davy will argue that I am stupid or denying reality, etc.
I know I keep talking about perspective, but that it the best way to understand today’s world. 74+ years of watching it change is an education a 30 y.o. can’t begin to understand. I lived in the US since the end of WW2. The 50s and 60s were America’s best years. They are now long past, as is the “American Dream”. If Americans don’t soon take back their country, it will never happen.
I have learned something new every one of my 27,000+ days of existence. 27,000+ new things. That is perspective.