Monday, September 30, 2019

With Oil Prices Falling; Demand For Oil Declining; And A Worldwide Glut Of Oil, Millennial Journalists Act Surprised That Shale Oil Production GROWTH Is Declining -- September 30, 2019

Maybe I'm missing something, but are the new millennial journalists even at The WSJ unaware of free market capitalism? And the "S" curve almost everywhere?

The link at The WSJ.
The American shale boom is slowing as innovation plateaus—and just when shale’s importance in global markets has reached new highs following an attack on the heart of Saudi Arabia’s oil infrastructure.
U.S. oil production increased by less than 1% during the first six months of the year, according to the Energy Department, down from nearly 7% growth over the same period last year.
The best thing about this story. The huge photograph was taken outside of Williston, ND.

Of course, when journalists want to print something "bad" about shale oil, they reference the Bakken; when they want to print something "good" about shale oil, they reference the Permian. Yeah, I'm thin-skinned, very biased, and inappropriately exuberant about the Bakken.

And that's not entirely true. I've seen a lot of negative stories about the Permian, too.


  1. Story was weak. But that's what comes of having English majors write about economic analysis and a technical industry. You coulda filed off a 2015 date and just ran the same story. Totally missed the issue of price (65 down to 55 is huge for these guys) and just has typical Art Berman stereotypes.

    1. Thank you for "supporting" me. I often misread things; don't see things others see. But I throw it out there for others to comment. I really appreciate you taking the time to write. Have a great week.

  2. I had looked at it before seeing your comments. So independent validation.