Not exactly, except for our own new production, in the Bakken and the Marcellus. No less an expert than T. Boone Pickens explained back during the BP Gulf bust that the Soddies did not really have any extra capacity even tho they said the’d ramp up a little extra to make up for the lost Gulf oil.
But the Soddies have their own problems now, even their own version of Arab Springtime, etc. and they simply can’t sustain max output without serious occasional downtime. I have a map of their pipeline grid on the wall here at the shop and it’s easy to see the only way they can increase production in a large way would be to overlay another pipe grid. They aren’t about to do that since the Princes make all the money they need doing what they’re doing.
Get ready for another jolt at the pump——three years ago I predicticated 9 dollar gas——it’ll take a little longer but we need to plan for it as long as Obamuzzie is running stuff.
Then the evil in the WH will have gotten it's way. Those kinds of prices will ensure millions give up services and amenities they now take for granted. That will result in the loss of even more jobs. Other prices will go up with it, causing another loop around the circle and we will look at Greece as a place we want to be.