The Big Sleep / It's A Wonderful Life -- January 19, 2019

Art and I are watching two different movies.

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

Art and I watching two different movies. His is a dark comedy, perhaps pulp fiction or film noir; mine is a feel-good romance. His movie could be called The Big Sleep. Mine, It's a Wonderful Life.