Note: the EIA is very conservative in its projections/forecasts. Keep that in mind as one reads the post.
Art Berman is taking a victory lap: suggesting that shale is not living up to the hype. He misread the WSJ article.
Meanwhile, headlines in the past couple of days:
- the US will produce an average of 12. 1 million bopd by 2020 -- EiA, about three days ago
- that forecast was increased to 14 million bopd by 2020 -- in the last day or so
- most of the increase will be due to the Permian
- the US will easily produce more oil (14 million bopd) -- even though production will be constrained -- than Saudi Arabia is even able to produce
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