REAL WORLD EVENT DISCUSSIONS

American peak oil?

POSTED BY: SIGNYM
UPDATED: Friday, March 10, 2023 07:13
SHORT URL:
VIEWED: 960
PAGE 1 of 1

Thursday, March 9, 2023 7:32 PM

SIGNYM

I believe in solving problems, not sharing them.


Quote:

The Wall Street Journal article, "U.S. Shale Boom Shows Signs of Peaking as Big Oil Wells Disappear," suggests that the United States' position as the top global oil producer may be in decline due to the imminent plateauing of shale growth.

"Frackers are hitting fewer big gushers in the Permian Basin, America's busiest oil patch, the latest sign they have drained their catalog of good wells," WSJ's Collin Eaton and BenoƮt Morenne wrote. They said top shale companies' best wells are producing less.

According to FLOW Partners LLC's data, the average oil production from the most productive 10% of wells in the Delaware area of the Permian Basin was 15% lower in the previous year compared to the highest output in 2017. Despite experiencing a significant surge, oil production growth in the U.S. has slowed down and has not yet returned to its pre-pandemic peak of approximately 13 million barrels per day.

Shale growth slowdown was blamed on "investor pressure on companies to curtail spending and limit growth in favor of generating higher returns," WSJ authors noted.

FLOW said Chevron's wells in Culberson County, Texas, produced an average of 42% less oil last year than those that started production in 2018. Additionally, Novi Labs' data indicates that the most productive 10% of wells that Chevron brought online in the Delaware region of the Permian Basin last year were roughly 25% less productive compared to its wells the year before.

Chevron Chief Executive Mike Wirth offered some insight last week into the shale slowdown, indicating production growth and drilling activity seen last decade "is unlikely to be repeated. "

The key question is why these wells are yielding at reduced outputs. Is it because North America's oil reserves are being depleted?

Well, probably not.

And what is astonishing is that WSJ authors entirely 'forgot' to mention one major contributor to the slowdown in shale production: the Biden administration has been intentionally destroying the energy sector, preventing exploration, drilling, processing, and refining.

So what's next for America's energy independence?

"The world is going back to a world that we had in the '70s and the '80s," said ConocoPhillips Chief Executive Ryan Lance, during a panel at the conference called CERAWeek by S&P Global. Lance warned that OPEC would soon supply more of the world's oil.

The days of explosive growth in U.S. shale oil production appear to be over. We pointed this out late last year. Odd that WSJ entirely left out Biden's anti-oil agenda and its effects on production from its reporting.



https://www.zerohedge.com/commodities/wsj-forgets-mention-driving-forc
e-behind-shale-boom-slowdown


The original WSJ article can be found here but it's behind a pay wall... https://www.wsj.com/articles/u-s-shale-boom-shows-signs-of-peaking-as-
big-oil-wells-disappear-2adef03f#comments_sector


NOTIFY: Y   |  REPLY  |  REPLY WITH QUOTE  |  TOP  |  HOME  

Thursday, March 9, 2023 9:38 PM

6IXSTRINGJACK


I was told back in high school that oil would run out in 30 years and we wouldn't be able to drive anywhere anymore.

It's been 29 years since I was told that.

More fear porn for the masses with the side benefit of not letting competing countries know what our real situation is.


We've got a shit ton of oil. And regardless of what our idiot politicians on either side want to do or not do, I can't imagine our Deep State wants anybody else to be the last country with oil to drill.

They're a no-good lot of evil jagoffs, but they're our no-good lot of evil jagoffs.



--------------------------------------------------

Growing up in a Republic was nice... Shame we couldn't keep it.

NOTIFY: Y   |  REPLY  |  REPLY WITH QUOTE  |  TOP  |  HOME  

Friday, March 10, 2023 1:36 AM

SIGNYM

I believe in solving problems, not sharing them.


Not global peak oil, American.
Also Saudi and North Sea fields are being played out.
But there are still vast reserves across the globe. Venezuela has the largest known reserves.
Anyway, if this is true it means we'll have to negotiate for oil with other nations.
-

----------
Pity would be no more,
If we did not MAKE someone poor - William Blake


NOTIFY: Y   |  REPLY  |  REPLY WITH QUOTE  |  TOP  |  HOME  

Friday, March 10, 2023 7:13 AM

6IXSTRINGJACK


I didn't say global.

We already do negotiate for oil with other nations. Biden* just isn't any good at it.

We've got plenty of oil. But let's use everyone else's until the petrodollar implodes.

--------------------------------------------------

Growing up in a Republic was nice... Shame we couldn't keep it.

NOTIFY: Y   |  REPLY  |  REPLY WITH QUOTE  |  TOP  |  HOME  

YOUR OPTIONS

NEW POSTS TODAY

USERPOST DATE

OTHER TOPICS

DISCUSSIONS
China
Tue, June 10, 2025 12:32 - 503 posts
Do you feel like the winds of change are blowing today too?
Tue, June 10, 2025 11:57 - 2262 posts
PREDICTIONS THREAD (v.2)
Tue, June 10, 2025 10:08 - 157 posts
The banning of Marijuana Weed Cannabis, Prohibition or pro-drugs, Legalization of smoking recreational Marijuana
Tue, June 10, 2025 10:02 - 44 posts
Music II
Tue, June 10, 2025 08:50 - 373 posts
CNN's Enten: Trump's Approval Rating On Immigration Has Gone Up Like A Rocket Compared To 8 Years Ago
Tue, June 10, 2025 07:20 - 1 posts
The Honeymoon is Over
Tue, June 10, 2025 07:18 - 384 posts
Why does nobody in America use public transport
Tue, June 10, 2025 07:15 - 22 posts
Other Elections on Planet Earth.
Tue, June 10, 2025 07:14 - 56 posts
Viva Las Vegas
Tue, June 10, 2025 07:09 - 17 posts
Ellen Page is a Dude Now
Tue, June 10, 2025 07:04 - 259 posts
Are cities lost to an economic Crime Apocalypse, how to fix them?
Tue, June 10, 2025 07:01 - 98 posts

FFF.NET SOCIAL