Oil Production Vital Statistics – January 2015
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DPC Oyster luggers along Mississippi, New Orleans 1906 Another ‘guest post’ by Euan Mearns at Energy Matters. I thought that, given developments in oi
[See the full post at: Oil Production Vital Statistics – January 2015]Very informative and well presented. Thanks, Euan, and Ilargi for sharing it here.
The “Demand driven” arrow in Figure 12 confused me briefly until I realized it indicates the direction of price/production due to declining demand.
Any sense of how long production plateaus last? Looks like it was going on 10 years in the NA before the shale boom. What about Europe and any other areas that have since declined? Can we anticipate FSR and OPEC having longer plateaus or in the same range (or shorter?)?
Charles Hugh Smith has an ideal companion piece on Assymetric Warfare in oil markets.
(I got the first comment on ZH, addressing the Large number of June $30 puts, which I got from an article about $20 puts, posted here.)
https://www.oftwominds.com/blogjan15/oil-war1-15.htmlI have a suggestion for Euan Mearns. Looking at your Figure 5, I think that the data would be better presented if the most volatile nations were placed at the top of the graph. I would place Libya at the top and Iraq as the next slice. Your placement causes the higher curves to be distorted as I look at the chart. My guess is that such apparent distortion would disappear with those two nations on the top of the pile.
Germany blinked on Greek Debt:
https://www.zerohedge.com/news/2015-01-07/dax-surges-after-germany-unexpectedly-opens-door-greek-debt-negotiationsBig oil is too big to fail. When the price is low enough to add the Global Warming tax without upsetting the chickens, it will begin rising again. Demand is unlimited, supply is not.
Insatiable government must be fed at all costs.
What I don’t understand is that despite the low rig count for gas, and despite the price of gas being apparently well under the break even price for quite some time (years), dry gas production never fell, though it levelled out for a year or more, and is now rising.
What gives? Perhaps the reality analysts got it wrong and shale gas (and maybe shale oil) are profitable at much lower prices than we thought? Does anyone have any ideas on this one?
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