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 Stuff  To Think About 
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Years of  Oil PDR at Current U.S Consumption;

15 Years of Gas PDR @ 40 TCF/Yr.

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Video Stuff
  Quote Stuff 

“Okay, I’ll tell you how I feel about the oil business. I don’t like it, but I do like the dividends. Because of the dividends, I’m willing to bless them. But if they didn’t have good dividends, believe me, I wouldn’t go near the group because I think that the group is just not in good shape.”      Jim Cramer, CNBC

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In late 2014 world oil prices collapsed from U.S. shale over production. OPEC got the blame for that but it was 4.8 MM BOPD of LTO that drove the price down $60.  To fix that Congress lifted the oil export ban in 2015. The shale sector in early 2016 immediately added 500 rigs and went on a drilling binge that lasted 4 years and put ANOTHER 4 MM BO on the world oil market.  
OPEC lost a big chunk of its market share to U.S tight oil production the last 15 years as it has cut ITs production, consistently, to keep prices propped up and to allow the United States to drain itself, first.
Below chart, the entire time the U.S. was on its drilling binge OPEC was cutting its production levels. 
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I do this blog stuff for fun, not to make money. I am not trying to sell you anything.  

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 
Copyrighted 2017; Oily Stuff Blog and Oily Stuff Productions; San Marcos, Texas 
Header Photograph by Robert Flaherty
Page Photograph by Mike Rasco
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Oily Stuff Productions @ 2020 

 
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