OilPrice.com: Can Global Oil Production Climb If The U.S. Shale Boom Is Over?
* Global monthly oil production peaked on a monthly basis in November 2018, and there are now real questions as to whether oil output will ever hit those heights again.
* A combination of spending discipline and regulatory hurdles appears to have ended the shale boom, but shale production growth may well have slowed anyway.
* There have been plenty of ‘peak oil’ predictions in the past, but with growing regulatory resistance, the death of U.S. shale, and less tier-one acreage, this really could be it.
Prior to the pandemic-induced downturn in world oil production, U.S. oil production growth was responsible for 98 percent of the increase in world production in 2018 (as reported in 2019). Almost all of that growth resulted from rapid increases in shale oil production which accounted for 64 percent of U.S. production (as of 2021).
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WNU Editor:According to the above report. The answer is no.
3 comments:
Second tier radio hosts on locally are panning electric cars and are bullish on hydrogen.
With electric cars, detached garages are a thing.
Electric cars such during the winter.
of course global oil production could happen. OBVIOUSLY. all it takes is not turning off the refining and drilling permissions, for one .. then not shutting down previously agreed pipelines, leaving entire countries and companies with billions if not trillions of cost the taxpayer (middle class) needs to pay. It is a direct attack on the middle class, with the ultimate goal to impoverish us and tie us to a control grid aka the carbon control system.
If you do not understand that carbon levels were higher back then than today, I do not know what to tell you. You are being manipulated, mislead and typically this takes place to control and take from you. It's the oldest game, just now they use the easy to influence (Gretas) and mass formation hypnosis through social media and other forms of mass communication. Same game, just different tools
Wake the f up
There are a lot of vulnerable deep sea rigs and super tankers out there if the big boys decide to fight a shadow war. The question isn't where more production will come from; regulatory boneheadedness has made sure that isn't feasible. The real question is which areas of existing production will be the next to fall. How long will Joe play nice with Venezuela?
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