How Bad Is It? -- Bloomberg Says The World Will Need To Depend On Russia To Make Up The Shortfall In Oil Going Forward -- Oh, Give Me A Break -- July 24, 2016

From Bloomberg, some data points:

• international CAPEX cut so much, dire shortages predicted
• Russian is our only salvation
• Russia will need to produce 11.7 million bopd by 2018, an increase of almost 600,00 bopd from 2015

Oh, give me a break. Later this year, we will see North Dakota production drop below 1 million bopd.

Unfettered, North Dakota Bakken can produce 2.2 million bopd.

Russia, our only savior. Nonsense.

It was only "yesterday," August, 2015, that "we" started hearing about the STACK, just as one example.