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Thursday, November 4, 2021

US Fossil Fuel In The News -- November 4, 2021

Pipeline capacity:

  • added "transnational oil pipeline capacity" could reduce CBR
  • the EIA is talking about trans-Canada-US pipeline capacity, specifically Enbridge's Line 3 replacement project; link here;
  • the DAPL could become superfluous: interesting commentary; link here;

Another Louisiana deal: when will Texas join the Haynesville party? Southwestern Energy. Link here. Archived.

Saudi has it right: it's not OPEC's fault.   

  • the US is lagging in crude oil production, mostly due to Brandon's policies and even worse, uncertainty about future Brandon actions;
  • it's the uncertainty that keeps oil companies from drilling; 
  • windfall profits taxes in their crystal balls, as just one example?

Spare capacity

  • I doubt it. 
  • so does an oil-peaker. Link here
  • by any stretch of the imagination, I am not a peak-oiler but I do argue that the tea leaves suggest OPEC has little spare capacity; and, 
  • the corollary is that the Permian has become the swing producer.

Market commentary, Horizon Kinetics

Global inventories:

Seven oil stocks: hitting seven-year highs

Devon? Delaware wells? Link here.

US shale: there's never been a better time ... anything decent has a <1-year payout new drill .... link here. It appears most oil analysts are not aware of this.

A ton for free cash flow. Literally. Link here

LNG: largest-ever supply deal between US and China just announced. Link here.

  • Venture Global LNG; a 20-year supply deal with Sinopec;
  • $30 billion deal
  • Venture Global now the top American LNG exporter to China
  • this something that Europe cannot do; this is what Europe is so afraid of when it comes to energy and the US. It explains why the EUro-crats are so eager to vilify fossil fuel. We've talked about this before.

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