International [Oil & Gas News] America Achieved Energy Independence As The World's Top Oil Producer (2018-2019)

those rankings were not adjusted for capita and density of traffic. If the other states came close to California's traffic density they'd be much worse.

Sure, but other states have weather that is much worse on roads necessitating much heavier maintenance. California does have very dense traffic, and it does have crappy roads. They could easily get them in shape if they spent the funds for the bullet train on repairing existing infrastructure instead.
 
Not but a couple years ago ignorant people were spewing peak-oil garbage.
 
A lot of the US is quite hot, like 80 - 90+ deg summer temps average. Even up here in the Northern MidWest, where we can get several feet of snow overnight, our summer temps do reach 90+ deg.
Right, we can grow oranges up in the midwest and use the southwest for solar panels. America would be the richest country on the planet.

Seriously though, what I meant is that America, Europe, Russia, and other countries in the Northern hemisphere would be less effected than countries in the mid and southern hemispheres. Probably even a benefit to Russia.
 
Will switching to electric cars and using solar power really stop climate change though? Or will it just slow down the inevitable?

Not sure, but I do know "climate change" ranks very low on the list of reasons why ordinary Americans are putting solar panels on our roofs en masse, or plans to buy electric cars when they drops to the same price range as gasoline engines.

Eco warriors might do so to save the Earth (and they will let you know with their bumper stickers), but ask 10 people with solar roofs and probably 9 will say the top reason is economic, and most probably wouldn't make the jump without the 30% tax incentive, which help the Return of Investment time frame substantially. Saving the planet is just the extra icing on the cake.

That's why people can be both supportive of solar energy AND satisfied that Canadian and American oil are neutralizing OPEC's shenanigans.
 
Last edited:
Right, we can grow oranges up in the midwest and use the southwest for solar panels. America would be the richest country on the planet.

Seriously though, what I meant is that America, Europe, Russia, and other countries in the Northern hemisphere would be less effected than countries in the mid and southern hemispheres. Probably even a benefit to Russia.

You do realize that agriculture isnt such a big part of the economy? raising water levels and the possibility of fucking the planet beyond repair is enough concern to do something about it.
 
That's why people can be both supportive of solar energy AND satisfied that Canadian and American oil are neutralizing OPEC's shenanigans.

A lot of their shenanigans were stopped because their main clients hit peak demand over a decade ago, thanks to higher taxes on fossil fuels.

Now natural gas on the other hand a little harder but still doable.
 
Do their 2 + 2's not equal 4?

It's one study, and they are always the most optimistic with their selection of figures and modeling.
It's misrepresentative to say, "Scientists: Climate Change Is ‘Not As Bad As We Thought'" because it's only one climate scientist and one financier with a maths and physics background that have always held the most optimistic position.
 
A lot of their shenanigans were stopped because their main clients hit peak demand over a decade ago, thanks to higher taxes on fossil fuels.

Now natural gas on the other hand a little harder but still doable.

I ofcourse speak of their production caps to boost prices artificially whenever they feels like it, which ironically lead to the breakthrough of drilling tech and the advent of shale.

They still try to do it, but that tool of price-control will be completely and utterly useless once the logistics are worked out in North America.


With glut almost gone, OPEC still cuts more than oil pact demands
Alex Lawler | May 14, 2018

r

LONDON (Reuters) - A global oil glut has been virtually eliminated, figures published by OPEC showed on Monday, thanks to an OPEC-led pact to cut supplies that has been in place since January 2017 and due to rising global demand.

Despite this, OPEC’s latest report said producers were cutting more than required under the deal, while producers not party to the agreement, such as U.S. shale companies, were starting to face constraints on future output.

Saudi Arabia, the world’s biggest oil exporter and de facto leader of the Organization of the Petroleum Exporting Countries, told OPEC it cut output in April to its lowest level since the supply deal began in January 2017.

The OPEC report said oil inventories in OECD industrialized nations in March fell to 9 million barrels above the five-year average, down from 340 million barrels above the average in January 2017.

“The oil market was underpinned in April by renewed geopolitical issues, tightening product inventories and robust global demand,” OPEC said in its report.

The deal between OPEC, Russia and other non-OPEC producers has helped oil prices LCOc1 rise 40 percent since it took effect. Oil reached $78.28 a barrel on Monday, the highest since November 2014, after the OPEC report was published.

The main goal of the supply deal was to reduce excess oil stocks to the five-year average. But oil ministers have since said other metrics should be considered such as oil industry investment, suggesting they are in no hurry to end supply cuts.

Indeed, the report showed OPEC for now is cutting more supply than the group has pledged under the pact.

OPEC output rose by just 12,000 barrels per day (bpd) to 31.93 million bpd in April, according to figures OPEC collects from secondary sources. That is roughly 800,000 bpd less than the amount OPEC says the world needs from the group this year.

Figures reported directly from OPEC members showed even deeper declines in production.

Venezuela, whose output has plunged due to an economic crisis, told OPEC its production fell to 1.505 million bpd in April, believed to be the lowest in decades.

Top exporter Saudi Arabia told OPEC it cut output by 39,000 bpd to 9.868 million bpd, which is the lowest since the supply cut deal began, based on figures Riyadh reports to the group.

SHALE CONSTRAINTS?

Strong growth in demand due to a robust world economy has helped remove the glut. OPEC slightly raised its estimate of growth in world demand this year to 1.65 million bpd.

The higher crude prices that have followed have prompted growth in rival supply and a flood of U.S. shale output. OPEC expects non-OPEC supply to expand by 1.72 million bpd this year, which is higher than the growth in global demand.

But OPEC forecast headwinds to future growth, such as the slow place of oil industry investment and an expected dip next year in investment in U.S. shale, also known as tight oil.

“Fast-growing U.S. tight oil production is increasingly faced with costly logistical constraints in terms of outtake capacity from land-locked production sites,” OPEC said.

Adding to the impact of OPEC-led cuts, the U.S. decision to withdraw from an international nuclear deal with OPEC member Iran and to renew sanctions has raised concerns about Iranian oil exports, helping drive prices higher.

OPEC signaled the group and its allies were ready to step in should “geopolitical developments” impact supply. Saudi Arabia said last week it was ready to offset any shortage but would not act alone.

“OPEC, as always, stands ready to support oil market stability, together with non-OPEC oil producing nations participating in the Declaration of Cooperation,” OPEC said, using its name for the pact on supply curbs.

https://www.reuters.com/article/us-...cuts-more-than-oil-pact-demands-idUSKCN1IF1AQ
 
LOL @ these guys raising their outputs back up because they're "friends of the United States" :D

OPEC, Russia prepared to raise oil output amid U.S. pressure

By Katya Golubkova, Dmitry Zhdannikov and Rania El Gamal | May 25, 2018

r


ST PETERSBURG/DUBAI (Reuters) - Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, weeks after U.S. President Donald Trump complained about artificially high prices.

Riyadh and Moscow are prepared to ease output cuts to calm consumer worries about supply adequacy, their energy ministers said on Friday, with Saudi Arabia’s Khalid al-Falih adding that any such move would be gradual so as not to shock the market.

Raising production would ease 17 months of strict supply curbs amid concerns that a price rally has gone too far, with oil having hit its highest since late 2014 at $80.50 a barrel this month.

Trump tweeted last month that OPEC had “artificially” boosted oil prices.

“We were in the meeting in Jeddah, when we read the tweet,” OPEC Secretary General Mohammad Barkindo said, referring to a meeting in Saudi Arabia on April 20.

“I think I was prodded by his excellency Khalid Al-Falih that probably there was a need for us to respond. We in OPEC always pride ourselves as friends of the United States,” Barkindo told a panel with the Saudi and Russian energy ministers in St. Petersburg at Russia’s main economic forum.

OPEC officials said by “the need to respond” Barkindo was referring to a tweet he sent the same day, rather than the need to act.

The Organization of the Petroleum Exporting Countries and allies led by Russia have agreed to curb output by about 1.8 million barrels per day (bpd) through 2018 to reduce global stocks, but the inventory overhang is now near OPEC’s target.

In April, pact participants cut production by 52 percent more than required, with falling output from crisis-hit Venezuela helping OPEC deliver a bigger reduction than intended.

Sources familiar with the matter said an increase of about 1 million bpd would lower compliance to 100 percent of the agreed level.

Barkindo also said it was not unusual for the United States to put pressure on OPEC as some U.S. energy secretaries had asked the producer group to help lower prices in the past.

Oil prices fell more than 2 percent toward $77 a barrel on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs.

NEAR TARGET

Russian Energy Minister Alexander Novak said current cuts were in reality 2.7 million bpd due to a drop in Venezuelan production - somewhere around 1 million bpd higher than the initially agreed reductions.

Novak declined to say, however, whether OPEC and Russia would decide to boost output by 1 million bpd at their next meeting in June.

“The moment is coming when we should consider assessing ways to exit the deal very seriously and gradually ease quotas on output cuts,” Novak said in televised comments.

Initial talks are being led by the energy ministers of OPEC kingpin Saudi Arabia and Russia at St. Petersburg this week along with their counterpart from the United Arab Emirates, which holds the OPEC presidency this year, the sources said.

OPEC and non-OPEC ministers meet in Vienna on June 22-23, and the final decision will be taken there.

Current discussions are aimed at relaxing record-high compliance with the production cuts, the sources said, in an effort to cool the market after oil hit $80 a barrel on concerns over a supply shortage.

China has also raised concerns about whether enough oil is being pumped, according to a Saudi statement issued after Energy Minister Falih called China’s energy chief on Friday to discuss cooperation between their countries and to review the oil market.

Nur Bekri, administrator of China’s National Energy Administration, told Falih he hopes Saudi Arabia “can take further substantial actions to guarantee adequate supply” in the crude oil market, the Saudi Energy Ministry statement said.

While Russia and OPEC benefit from higher oil prices, up almost 20 percent since the end of last year, their voluntary output cuts have opened the door to other producers, such as the U.S. shale sector, to ramp up production and gain market share.

The final production number is not set yet as dividing up the extra barrels among deal participants could be tricky, the sources said.

“The talks now are to bring compliance down to the 100 percent level, more for OPEC rather than for non-OPEC,” one source said.

RALLY CONCERNS

OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC and oil industry sources told Reuters on Tuesday.

However, it is unclear which countries have the capacity to raise output and fill any supply gap other than Gulf oil producers, led by Saudi Arabia, and Russia, the sources said.

“Only a few members have the capability to increase production, so implementation will be complicated,” one OPEC source said.

So far, OPEC had said it saw no need to ease output restrictions despite concerns among consuming nations that the price rally could undermine demand.

The rapid decline in oil inventories and worries about supplies after the U.S. decision to withdraw from the international nuclear deal with Iran, as well as Venezuela’s collapsing output, were behind the change in OPEC’s thinking.

https://www.reuters.com/article/us-...se-oil-output-amid-u-s-pressure-idUSKCN1IQ0Q6
 
Last edited:
It's one study, and they are always the most optimistic with their selection of figures and modeling.
It's misrepresentative to say, "Scientists: Climate Change Is ‘Not As Bad As We Thought'" because it's only one climate scientist and one financier with a maths and physics background that have always held the most optimistic position.

That could very well be true. I have no clue. What is also likely true, is that models, shouldn't be called science. It is a guess.
 
I ofcourse speak of their production caps to boost prices artificially whenever they feels like it, which ironically lead to the breakthrough of drilling tech and the advent of shale.

They still try to do it, but that tool of price-control will be completely and utterly useless once the logistics are worked out in North America.


With glut almost gone, OPEC still cuts more than oil pact demands
Alex Lawler | May 14, 2018

r



https://www.reuters.com/article/us-...cuts-more-than-oil-pact-demands-idUSKCN1IF1AQ

But the US and Europe took completely different approach to said shenanigans.

While Europe moved towards energy efficiency the US moved towards drilling more.

I think if the oil glut had not happened we would be seeing an earlier breakthrough in electric vehicles by now.
 
That could very well be true. I have no clue. What is also likely true, is that models, shouldn't be called science. It is a guess.

Scientific modelling is a pretty fundamental part of Science. Whether that's a model of the atom or a model of our climate. The difference with the paper referred to in your article largely lies in the use of a more basic model. I don't want to derail this thread though, just pointing out that there certainly isn't a change in scientific thinking about the use of fossil fuels.
 
Scientific modelling is a pretty fundamental part of Science. Whether that's a model of the atom or a model of our climate. The difference with the paper referred to in your article largely lies in the use of a more basic model. I don't want to derail this thread though, just pointing out that there certainly isn't a change in scientific thinking about the use of fossil fuels.

Modeling is great sometimes. Weather is basically an entire field based on modeling. Over time, that model was refined to be pretty accurate, and yet still from time to time it is completely wrong.

This was done in a scenario where you could predict the weather on Monday, verify if you were right or wrong, and adjust the model.

How does that work on climate?

What models have been proven right so far on climate?

Man, I am all for doing something about climate change. Their is evidence outside of modeling that is highly alarming.

If people go around screaming the sky is falling, and it doesn't fall when it is supposed to, that is dangerous.
 
Modeling is great sometimes. Weather is basically an entire field based on modeling. Over time, that model was refined to be pretty accurate, and yet still from time to time it is completely wrong.

This was done in a scenario where you could predict the weather on Monday, verify if you were right or wrong, and adjust the model.

How does that work on climate?

What models have been proven right so far on climate?

Man, I am all for doing something about climate change. Their is evidence outside of modeling that is highly alarming.

If people go around screaming the sky is falling, and it doesn't fall when it is supposed to, that is dangerous.

Because we are nothing but a fart in terms of the worlds age, 100 years is absolutely nothing in geological terms, yet we are seeing massive climate changes that cant be easily explained.
 
Multi-Well Pad Drilling Technology and North America’s Shale Oil Boom
North America’s shale oil producers are leading the global market with the help of advanced drilling technologies
May 9, 2018​

https://investingnews.com/daily/res...ricas-drilling-efficiency-and-shale-oil-boom/

I slid a couple of rigs on multiple hole pads and it’s insane. I always got stuck being the cat puller. Butt hole pucker factor goes to 11.
Most of the new rigs will walk themselves. I seen a Nabors rig that lifted the tanks, dog house, etc. only thing they had to remove was the cat walks.
 
Right, we can grow oranges up in the midwest and use the southwest for solar panels. America would be the richest country on the planet.

Seriously though, what I meant is that America, Europe, Russia, and other countries in the Northern hemisphere would be less effected than countries in the mid and southern hemispheres. Probably even a benefit to Russia.
Well the summers here would be rather too hot for a lot of people. In other parts of the US there are hot weather advisories by local authorities, especially concerning older people and children.

The winters here would be better but the summer would be worse. And in the Southern US and the South-West, it will cause major issues for everyday life and agriculture, along with wildlife.

I am not sure if the higher temps would make a big difference in solar power generation, whether any possible gains can cover for the increased use of air-conditioning.
 
Back
Top