Saturday, January 21, 2017

Shock And Awe! Russia, OPEC Say Crude OIl Production Cuts Coming Deeper And Faster Than Expected -- January 21, 2017

MDU is requesting a 6.6% rate increase. They will be lucky to get 3%. 


Bloomberg here.
  • Saudi: 1.5 million bopd have been removed from the global market
  • Russia: supply has already been cut by 100,000 bopd
  • Saudi Arabia, Kuwait, Algeria: have already made deeper cuts than required
  • Russia: has reduced supply faster than expected
  • "ahead of schedule and we will continue"
Hopefully there will enough renewable energy to make up the difference.


I'm not sure why Bloomberg (in the linked article above) did not include 2015 data (that data is over a year ago) and why no data for 2016 (even if somewhat "estimated"). It's possible the data in 2015 was not shown because in late 2014, OPEC scrapped all quotas.

It is amazing, looking back on this graph, that "the code to crack the Bakken" was broken/discovered during the worse global recession since the "Great Depression."

On another note, my comments on "OPEC cheating."

President Trump's Energy Plan

Meannwhile, President Trump's energy plan is now posted at the White House website. Here is the take by Business Insider:
We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves.'
Or, more pithily said by a former talking head over at CNBC: drill, baby, brill. 

The Political Page

Fox News did not re-sign George Will. Will lost his way some time ago.

In retrospect, Megyn made it easy for the network to transition.

Who Funded The Women's March?

This site will help you find out.

I will link it at the links page. 

No comments:

Post a Comment