Sunday, February 28, 2021

Records, Records, And More Records -- Focus On Fracking -- February 28, 2021


Awesome! Focus on Fracking is posted early.

The individual who puts together Focus on Fracking says he may have missed a few "records," but thinks he has caught the most important ones.

He says that if it were not for this spring's Covid-19 pandemic and the lockdowns, "it" would be the worst since Hurricane Harvey, and possibly worse than Harvey.

Wow.

Let's see the lede. 

  • record drops in:
    • US oil output,
    • US oil exports
    • distillate outputss
  • second largest natural gas supply drop on record;
  • oil prices highest since 2019

Then this:

  • natural gas supplies see second largest drop on record as US burns 15% of inventories in one week:
  • oil prices hit highest since 2019 as US oil exports drop most on record;
  • oil production drop matches record;
  • distillate output drops most on record to an eleven-year low;
  • oil refining and distillate exports drop most since Hurricane Harvey;
  • refinery utilization at a 40-month low;
  • gasoline output falls by most in 46 weeks to lowest in 38 weeks;
  • gasoline demand falls most in 43 weeks to a 39-week low;
The draw could have been a lot worse if we had been exporting LNG .... most, if not all, of the LNG trains were down too ... looking at the dashboard, it appears there were 4 days that week when this year's gas exports fell 10 bcf below last years.

Think about that. The cold snap lasted less then a couple of days, and the US burned through 15% of natural gas inventories. 

Imagine if the cold spell had lasted a week or so, or if there had been seven cold spells in succession.

The "warmists" better hope that global warming is real, because if we're really facing "global cooling" we're in deep doo-doo. 

Much, much more at the linked blog. Re-posting because it seems to fit so well:

2 comments:

  1. Biden is going to be a big problem for O&G. Already much worse than Obama.

    ReplyDelete
    Replies
    1. This should be very fascinating. Things generally spiral out-of-control but it takes awhile for the snowball to become a snowman.

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