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While Rome Burns... In 2022 the Biden Administration drained the United States Strategic Petroleum Reserve by 225 million barrels of oil, ...
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"US onshore producers risk entrapment in a cycle of inefficient drilling, forsaking positive cash flow for greater volumes and market share. High production could also make the Biden administration more focused on promoting other forms of greener energy. " Financial Times
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Like it or not, believe it or not, this Novi chart is TRRC data, the ONLY data that matters, thru September 2023. We are beginning to see the ramifications of falling rig counts last May and well numbers and associated gas is starting down. US oil growth is over.
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The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. I may make data related mistakes occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means. Don't blame me, I didn't do it.
Mike Shellman
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