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Some Clarification, Please
I get a lot of criticism for suggesting the United States is on the threshold of crude oil and condensate scarcity. A whacko peak oil nut, I am called.
The key word is affordable crude oil and condensate. Profitable oil to find and produce. Indeed, we'll never run out of oil, that is a stupid concept used to deflect from reality. There are depleted oil fields in the country that would produce millions of barrels per day, in 4 BOPD increments. So what? We're not ever going to run out of oil.
The government does not "subsidize" companies to produce oil in America; that's liberal dung heap. We don't get checks in the mail to drill wells.
Private enterprise and capitalism in the U.S. are in charge of our hydrocarbon resources. It has to be profitable, this extraction, or it fails. I know that is difficult to understand given the…




Great Post Mike,
Looks like Chevron believes it can remain in a 1 Moebd until 2040, with just a small number of rigs to keep production in a plateau.
What are these guys thinking?
steve