Posted on 12/17/2013 4:53:57 AM PST by thackney
I have noticed that increased oil supply has changed nothing in the vehicle fuel prices here in the U.S. or anywhere else in the so-called free western world.
Something is wrong, it can’t all be about not having enough refineries, IMO.
Gas prices are due to oil prices.
Oil prices are not controlled by the US market alone.
There are reports in the Congressional Record dating back to the 1870’s claiming that US oil production will peak and begin to decline within 10 years. There is also a report saying there is no oil in Texas.
Didn't they have a slight overheating problem from the fuel tank?
Did you notice the “Green Energy” spin?
The word “harvest” is used to describe the production of crude and natural gas.
You cannot plant grow and “harvest” crude or natural gas for fuel, you drill and produce it.
Non renewable = peak oil
You plant grow and “harvest” crops for fuel.
Renewable = green energy
No doubt, this is just as accurate as their predictions of current production were 5 years ago.
Not so much for those model years.
By then rear axle shields were incorporated in production along with longer fuel fill pipes that would not disconnect from the tank in a rear ender. Excursions have a ~40 gal tank in the same location with few reported problems.
But not, I dare say, for lack of resources.
Rather, too much Marxism at the EPA, too many environmental whackjobs in the federal bureaucracy, and too many crooks in congress.
I posted another story on this last night.
This one spins the eia report differently.
They suggest that oil production increases will come to a screaming stop in 2017 but prices will continue to increase.
That scenario doesn’t seem likely.
If production increases come to a screaming stop — it will be because prices drop precipitously. that’s not in the cards.
world wide demand is just too high and growing.
what’s more likely is that production increases will slow down. How much is unknown right now.
imho production increases in 2014 and 2015 will be closer to 1 million barrels @ day. the eia usually underestimates everything. so their 800,000 Barrel @ day oil increase number for 2014-5 should be considered a low end estimate.
but I think we’ve been through this discussion before. this time however the eia provides some official numbers.
I don't see your type of description in the report.
world wide demand is just too high and growing.
But that is only part of the picture. Increased supply from other nations is going to effect the economical ability for companies to continued the capital investment into the US production market needed to maintain growth.
what’s more likely is that production increases will slow down. How much is unknown right now.
That is more inline with what I read.
I don't know how you read that as a screaming stop.
U.S. oil production is on track to reach a near historic high by 2016, before leveling off and eventually beginning to taper in 2020, according to a new federal forecast.
I don’t know how you read that as a screaming stop.
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read the next paragraph:
The nation’s crude output will crest at 9.5 million barrels per day in 2016, according to the U.S. Energy Information Administration’s latest annual energy outlook, released Monday.
How does the word “crest” and “reach near historic high by 2016 before leveling off” mean different slow down rates to you?
But that is only part of the picture. Increased supply from other nations is going to effect the economical ability for companies to continued the capital investment into the US production market needed to maintain growth.
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agree. but I think the complexity of the technology will not allow competitors of the USA to bring volume to the market via fracking within the next five years. after that. yeah sure.
Much of the Hydraulic Fracturing work is actually done by International Firms like Halliburton. The small independents that have driven this growth are typically not doing the fracturing themselves.
How does the word “crest” and “reach near historic high by 2016 before leveling off” mean different slow down rates to you?
............
The “crest” of the hill or the “crest” of a wave in both cases means the top of the hill or the top of a wave. that said, of course you’re free to interpret that as meaning production rate increases will slow down rather than stop.
myself, I actually think production increases will remain high for another 2-3 years.
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