Just Saying -- Robert Rapier Over At SeekingAlpha -- March 6, 2022

From Robert Rapier over at SeekingAlpha:

A grim reminder:

The U.S. imports more than half a million barrels per day of oil from Russia. They are our 3rd largest supplier.  

The on-again, off-again Keystone XL pipeline — ultimately canceled by the Biden Administration — would have had a capacity of up to 830,000 BPD. It would have transported oil from Canada and from the Bakken Formation in the U.S. It would have moved more oil than we get from either Russia or Saudi Arabia — and nearly as much oil as we get from OPEC.

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Not Saying

Link to Irina Slav.

I wasn't going to post this story but the STEO data is nice to have. Although Irina Slav says private firms are opening the tap even if publicly-traded companies are not, she did not name any private firms. If she did, I missed them. I have trouble believing any of this. If it's true, I have trouble believing it will make much difference.

Irina says:

Rystad Energy this week forecast that the latest price surge could see an additional 300,000 bpd boost to already rising U.S. shale production, Reuters reported. 

This, the Norwegian energy consultancy said, could bring the total production increase in the U.S. shale patch to 1.2 and 1.3 million bpd. 

To compare, the EIA had forecast a production increase this year of less than 1 million bpd, and IHS Markit's Daniel Yergin had predicted U.S. oil production growth at some 900,000 bpd. But all that was before the Ukraine war.

Adding an "additional 300,000 bopd" almost sounds like efficiency gains by the publicly-traded companies. To suggest the 300,000 bopd is coming from privately-traded companies, "show me the money."