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Started By
Message
US overtakes Saudi Arabia as world’s top oil producer
Posted on 9/12/19 at 9:27 am
Posted on 9/12/19 at 9:27 am
quote:
Booming shale production has allowed the US to close in on, and briefly overtake, Saudi Arabia as the world's top oil exporter ... in June, after crude exports surged above 3 million barrels per day (bpd)."
LINK
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Posted on 9/12/19 at 9:28 am to weagle99
MAGA
Posted on 9/12/19 at 9:28 am to weagle99
When we gonna make our own Dubai then??
Posted on 9/12/19 at 9:31 am to weagle99
But Orange Man Bad!!!
Posted on 9/12/19 at 9:31 am to TaderSalad
quote:
MAGA
Posted on 9/12/19 at 9:32 am to weagle99
now if only we can get the gulf of mexico back to working, things would be swell. it's DEAD.
Posted on 9/12/19 at 9:32 am to 50_Tiger
quote:
When we gonna make our own Dubai then??
Time to build some artificial palm islands in the middle of Lake Charles!
Posted on 9/12/19 at 9:34 am to GetCocky11
I thought we were saving ours when it all runs out.
Posted on 9/12/19 at 9:40 am to weagle99
About 3.5MM bbls of the 12MM or so in production is uneconomic...the value of upstream and midstream public companies have nearly all been halved in the past year. :thisisfinememe:
If Trump gets us back to ZIRP this may keep the rigs running in marginal rock a bit longer...but the banks have been tightening up the spigots due to mounting losses.
If Trump gets us back to ZIRP this may keep the rigs running in marginal rock a bit longer...but the banks have been tightening up the spigots due to mounting losses.
This post was edited on 9/12/19 at 10:04 am
Posted on 9/12/19 at 9:43 am to tigerdup07
quote:
now if only we can get the gulf of mexico back to working, things would be swell. it's DEAD.
Gotta have a governor willing to stop suing oil companies off Louisiana coast, baw.
Posted on 9/12/19 at 9:45 am to 50_Tiger
quote:
When we gonna make our own Dubai then??
You been to Fourchon baw?
Posted on 9/12/19 at 9:45 am to TaderSalad
quote:
Gotta have a governor willing to stop suing oil companies off Louisiana coast, baw.
That's not what killed the gulf...investment is almost all in unconventionals right now...and no one wants to be holding all that dead iron when the music stops.
Posted on 9/12/19 at 9:50 am to weagle99
Imagine the scene when Obama, Hillary and Biden are called to carpet by their Saudi puppet-masters:
"Barry, you have FAILED. The USA is now the best."
"Hillary, you have ALSO failed. You were supposed to protect my investment with a Victory. You miserable failure."
"Joe, it is up to you. You must not fail."
"Barry, you have FAILED. The USA is now the best."
"Hillary, you have ALSO failed. You were supposed to protect my investment with a Victory. You miserable failure."
"Joe, it is up to you. You must not fail."
Posted on 9/12/19 at 9:55 am to cwill
quote:
That's not what killed the gulf...investment is almost all in unconventionals right now...and no one wants to be holding all that dead iron when the music stops.
So the US overtakes SA in oil production but the gulf is dead due to lack of investors? Gulf is dead due to progressive policies and tendencies to see a big buck via law suit.
Posted on 9/12/19 at 10:02 am to TaderSalad
quote:
So the US overtakes SA in oil production but the gulf is dead due to lack of investors?
All the majors have exited the Shelf (only deepwater). Even most of the big independents are gone. And, yes, investment is almost exclusively chasing unconventionals, particularly permian. The lawsuits you're likely refering to are the legacy-type suits which have more to do with near shore/marsh exploration than the Gulf which I take to mean the shelf and deepwater.
Posted on 9/12/19 at 10:03 am to Pintail
The closest thing to Dubai is Midland.
Posted on 9/12/19 at 10:05 am to weagle99
the majority of the permian oil is light crude, it has to be exported. not all "oil" is the same
Posted on 9/12/19 at 10:10 am to cwill
Deepwater is anything but dead. There are more players in it now than 2 or 3 years ago and there is lots of new money trying to find a home.
The shelf is dead and has been for almost a decade.
The shelf is dead and has been for almost a decade.
Posted on 9/12/19 at 10:13 am to weagle99
This explains the absence of F250's on the used car lots.
Posted on 9/12/19 at 10:21 am to Topo Chico
quote:
Deepwater is anything but dead.
Yes...majors and NOCs are still very active. Murphy is making a strong push to get back out there with the LLOG acq...I would bet they make a push to buy the Anadarko deepwater, too.
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