re: US crude output to rise to record 12.76 million bpd in 2023

quote:

---

As with a lot of things the Biden WH does, they lied to their supporters while campaigning about what they were going to do versus what they are doing now while in office.

---

Democrats always lie about energy policy. They do it for the crazy green constituency.

quote:

---

ehhh I wouldnt go that far, the EOs were softened and not as bad as we thought they were going to be but there was a pause on new lease sales on Fed Lands in 2021. Now I agree the real world effectiveness of the EOs has not been too bad. But the tone they set in 2021 for the Energy Policy of the Biden Admin has taken some time to overcome.

---

The shale basins are basically unconstrained by Feds. NM permian has some constraints on the permitting side, but that's the state.

The coming constraint is going to be the loss of tier 1 and 2 inventory in the basins. Shale is going to roll over in maybe the next 5 years and then we will see oil prices begin to rise significantly.

quote:

---

As with a lot of things the Biden WH does, they lied to their supporters while campaigning about what they were going to do versus what they are doing now while in office.

---

Yet the left is outraged that Biden approved a shortline RR to the Uinta Basin in Utah. That crude has to move by rail due high wax content. Even cut 50% with condensate wax buildup in pipelines after 100 miles is insane.

Edit - value of Uinta crude is the best for refining into base oil which lubricants are made from. Wholesale price of base oil is around $5 per gallon which is far better than any other major product.

This is wonderful crude while the tight shale crude is good for blending and not primary feedstock.

As to your comment on chemicals, a client is shifting to going after the mining market with his modified starch polymers. Halliburton et al are trying to give that business to Indian podnas who like the Europeans have not been able to meet the same specs. His company has THE major supplier for almost 60 years after then started the market.