re: US running out of room to store oil; price collapse next?

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Weren't the tards saying about 35 years ago that we were running out of oil?

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And they were right in a way. The low fruit had been picked.

They did not forsee three-D seismic, advances in directional, lwd, or any other of a host of things that made it easier to find and produce oil.

They damn sure did not forsee exploiting shales with long-reach horizontals and staged hydraulic fracturing.

So we bet on the come, and technology paid off. Now the new risk is economic.

Who's going to put $500,000,000 behind the next shale play knowing that the Saudis can take them out at any moment?

How ya gonna replace the talent and infrastructure that just got laid off or is rusting in the yard as we wait this out?

There is lots of oil under the ground. Whether you can economically produce it in the future is a huge question. Me? I expect a huge oil shock in a few years. If you keep your cars for a while, by something really fuel efficient next go-round. It's gonna get ugly at the pump.