Permian pipeline competition heats up. Rigzone.
Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already forcing companies to cut fees and could mean lower profits and cutthroat competition ahead.
Producers in the West Texas and New Mexico oilfield are pumping about 4.72 million barrels a day, according to Rystad Energy AS. That compares with nearly 6 million barrels of pipeline capacity that could rise by about 3.5 million barrels in the next two years as planned new conduits come online.
Most of those planned projects were announced when the Permian was posting annual growth rates in excess of 1 million barrels a day. Now, some analysts see yearly growth slowing to as little as 650,000 barrels a day, with older wells producing less and oil companies preparing to curb spending this year to boost investor returns.Saudi Aramco: shares hit new low. Sounds like not all of it due to geo-political tension.
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Geo-Politics
Politics
And Other Nonsense
Powerline: linked at the sidebar at the right. Perhaps the best site to put geo-politics, politics, and other nonsense into perspective.
Meaningless resolution: Iraq's resolution to kick the US out of its country. Explains what mainstream media does not.
Ditto: Pelosi says she will introduce legislation to stymie President Trump in the Mideast. Okay.
The adult in the room. Petraeus on Soleimani. "This particular episode has been fairly impressively handled."
Tied all-around. New Iowa poll -- Sanders, Buttigieg, and Biden each poll at 23%. Pocahontas at 16%. Klobuchar, a legend in her own mind, polls at 7%. Steyer, 2%. Bloomberg is not participating in the Iowa caucuses. It is difficult to consider Biden, the placeholder for Hillary, polling at 23%, tied with two others, as any kind of front-runner. CBS/YouGov, polling 953 "likely voters" at RealClearPolitics.
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