Tuesday, June 12, 2012

Bold Prediction -- The Bakken, North Dakota, USA

30-second sound bite:
  • Saudi Arabia: 10 million bopd
  • Russia: 10 million bopd
  • US: 9 million bopd (or 10 million bopd)
  • Canada: 3 million bopd
  • Bakken: 0.6 million bopd
If the price of oil goes to $60 by the end of the year and stays there for at least six months, at the end of six months (into next year):
  • Saudi Arabia: 9 million bopd
  • Russia: 9 million bopd
  • US: 9 million bopd
  • Canada: 0 million bopd
  • Bakken: 0.7 million bopd