Looking over the numbers, and knowing the way the North American oil market works, it’s becoming increasingly apparent to me that current US crude oil production cannot be sustained unless the Department of Commerce begins to permit exports beyond Canada.
Posts Tagged ‘shale’
By Joshua Brown | January 7, 2014 12:05 AM Comments (0)
The oil boom in the Bakken Shale play has done more than provide the US with a major source of sweet crude oil. It has helped revitalize an entire state.
While ever-growing oil production in North Dakota is nothing new — the state will likely hit 1 million b/d in early 2014 — life surrounding the wellheads has started to grab headlines.
By Bill Holland | January 1, 2014 12:01 AM Comments (0)
In the last five years Pennsylvania has grown from a marginal natural gas producer to an 8 Bcf/d-plus behemoth that will pass Louisiana as the US’s second most productive state this year. (Texas is far and away the top producer with more than 22 Bcf/d of gas production.)
What’s not to like: a shallow Marcellus shale formation, lots of fresh water, economically battered rural communities, and no severance tax.
But the honeymoon is over.
By Samantha Santa Maria | November 12, 2013 12:01 AM Comments (0)
The US Northeast is flooded with natural gas such that supplies are desperately trying to find alternative homes in eastern Canada, the Midwest and the Southeast.
Effectively — with the US Northeast due to pump out 13 Bcf/d by year’s end — the region has become what the pre-Katrina US Gulf Coast once was: the production basin in North America. Read the rest of this entry »
By Tamsin Carlisle | November 7, 2013 12:01 AM Comments (3)
The steady increase in US oil output of recent years, especially as a result of shale oil exploitation, has not gone unnoticed by OPEC. But is it sustainable?
That was a question posed rhetorically by OPEC Secretary General Abdulla ElBadri in late October on the sidelines of a Gulf Intelligence energy forum in Muscat, Oman. Expanding on the issue, he said it remained to be seen whether US and Canadian crude production could be maintained at current levels, let alone increased, implying that it was too early for OPEC to start worrying seriously about any potential impact to the market call on the organization’s crude.
By Robert Perkins | October 11, 2013 02:34 PM Comments (0)
So exactly when will the US shale revolution allow the world’s biggest oil consumer to topple Saudi Arabia as the biggest global oil producer?
The International Energy Agency reignited the perennial supply topic Friday with its latest monthly oil market report. According the report, the US will, at least, replace Russia as the world’s number two oil producer before mid-2014.
By Bernardo Fallas | July 18, 2013 05:33 PM Comments (1)
The US petrochemical renaissance could spell the death of the small polymer producer in Latin America.
But there’s no denying that the threat facing these companies is quite real and quite easy to figure out.
By Robert Perkins | July 11, 2013 03:32 PM Comments (0)
The International Energy Agency has painted a picture of softer market fundamentals in 2014, but gone to lengths to point out a number of intangibles which could ultimately derail its latest predictions.
Fleshing out for the first time its oil market forecasts for 2014, the IEA believes the US’ shale oil boom will continue to underpin surging non-OPEC supply next year.
By Bridget Hunsucker | June 25, 2013 12:01 AM Comments (3)
For months, a fleet of crude oil tanker vessels have waited in line to approach the congested public docks of the Port of Corpus Christi, Texas. The object of their shipping desire is one of the US’ hottest commodities: light, sweet and relatively cheap Eagle Ford Shale crude.
By John Kingston | May 22, 2013 12:01 AM Comments (5)
The release of Ohio’s 2012 production figures last week by the state hit the market with a thud, disappointing just about any analyst who checked in with their views. “Bust” was a commonly-heard theme about the Utica, supposedly the next-great US shale play.
So it took a few days, but there’s now an alternative voice, put forth by Sandy Fielden of our friends from RBN Energy. Fielden, in a just-released analysis, makes two points: it’s too early to get too worked up, and the Utica play is going to benefit from preparing for a rush of condensate production.