A Month Ago, EIA Predicted US Crude Oil Output To Slow To 800K In 2015; Now, One Month Later, EIA Predicts The Growth To Be 1 Million BOPD

This is for Jane Nielson:

Rigzone is reporting:

The U.S. government on Tuesday jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth.

The U.S. Energy Information Administration now expects domestic output to rise to 9.53 million bpd, growing by around 1 million bpd for a third consecutive year, according to its latest monthly short-term energy outlook. A month ago the EIA had predicted output growth would slow in 2015 to 800,000 bpd.

The U.S. shale boom has allowed producers to unlock thousands of barrels of reserves, putting the United States on course to become the largest producer of oil globally, which would dramatically reduce its dependence on imports. 

The EIA also raised forecasts for 2014 U.S. output to 8.53 million bpd from the previous estimate of 8.46 million bpd. It said U.S. growth would account for 91 percent of the 1.3 million bpd rise in global oil output next year.

Meanwhile, the Keystone XL is not going to be approved. Trust me.

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An "aha" moment

I'm in my Inside Llewn Davis phase. As I wrote elsewhere regarding this movie:

I like the Coen Brothers but delayed seeing this movie for quite some time after seeing the trailer. I didn't think I would care for it. I didn't. Not the first time, or the second time. But then I started to really "see" the movie the third time I watched it. Now, each time I watch it, the movie gets better. It's all about the dialogue and the music.

When one sees the road trip with John Goodman, one starts to realize this could be a sequel to O Brother, Where Art Thou.  The music, I think, is better than that in "O Brother"; but unlike "O Brother," there is no plot per se. It's all about the journey, not the destination. [By the way, that's why I enjoy following the Bakken; it's all about the journey, not the destination.]

All I can say is this: if you watch it and don't like it, watch it a second time. If you still don't like it, watch it a third time, really late at night when you have no other distractions, and watch it from the perspective of a film critic. By the third viewing, you will be hooked, and will watch it again.

Tonight, my fourth viewing, I caught something (so obvious) that I had not seen before. When they arrive in Chicago, they stop at a roadside restaurant, of the Fred Harvey chain. I recall seeing the scene in an earlier viewing, but it did not "connect." This time it did.

This past summer we spent several days in the Grand Canyon area, and in the process came to learn of Mary Colter, the architect who worked for both the Santa Fe Railway and the Fred Harvey Company simultaneously, designing restaurants and hotels along the Santa Fe Railway route from Chicago to Los Angeles.

This is one of those rare "aha" moments when watching period pieces.

[By the way, the Coen Brothers do a great job showing the hypnotic effect of driving long distances in snow storms. They grew up in a suburb of Minneapolis and spent their coming-of-age years in the northeast, so they had plenty of driving-in-the-snow experiences.]