Helping America Navigate a New Energy Reality

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Quote – 16 Feb 2015

By on February 16, 2015 in Quotes

“The decline in the U.S. rig count likely remains well short of the level required to slow U.S. shale oilproduction to levels consistent with a balanced global market. Lower oil prices will be required over the coming quarters to see the U.S. production growth slowdown materialize.” – Goldman Sachs, from a note on Tuesday, in […]

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Quote – 09 Feb 2015

By on February 9, 2015 in Quotes

“The U.S. growth story has been central to the oil market story.  In a few months, that month-to-month growth is going to flatten out.” IHS predicts the “sensational” growth will level off at 9.5 million barrels per day in the second quarter of 2015, assuming the benchmark West Texas Intermediate (WTI) prices remain below US$60… […]

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Quote – 02 Feb 2015

By on February 2, 2015 in Quotes

“The problem is that the US shale sector in aggregate is still not free cash-flow positive even after five years of soaring production, and if the shale model was not able to show positive free cash-flow even when prices were averaging around $100/bbl from 2011 until mid-2014, then investors and lenders will clearly be very […]

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Déjà Vu With a Twist?

By on February 2, 2015 in Commentary

By Robert L. Hirsch. The recent world oil supply/price decline situation looks very much like what happened in 1985-86, when the Saudis dramatically increased oil production, causing world oil prices to crater.  That Saudi action was the result of their having acted as swing producer in OPEC, which under those circumstances caused a progressive loss […]

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An Apollo Program for Energy

By on January 29, 2015 in Commentary

A National Energy Program – A White Paper on Achieving Energy Independence and National Transformation.   By Lawrence Klaus. Revised and Updated, January 2015. In a recent post, we marked the 40th anniversary of the 1973 Oil Embargo–an event that has had profound economic and geopolitical aftershocks for the United States.  The embargo itself lasted […]

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Quote – 26 Jan 2015

By on January 26, 2015 in Quotes

“We spent a lot of money to go out and drill and use new technologies just to stop production from depleting in our mature fields. It took us a lot of capital to basically run in place and now we’re looking at crude prices under $40 a barrel.” — Rock Zierman, CEO of California Independent […]

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Quote – 19 Jan 2015

By on January 19, 2015 in Quotes

“You can never have an agreement whereby everybody cuts production. We can’t trust all OPEC countries. And we can’t trust the non-OPEC countries. So it’s not on the table because the others will cheat. The past has proven that. When Saudi Arabia cut production in the ’80s and ’90s, everybody cheated and took market share […]

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Quote 2 – 12 January 2015

By on January 12, 2015 in Quotes

“Sweet crude from the Bakken fetched less than $32 per barrel on Jan 6, and sour crudes were worth less than $23, according to posted prices from Plains Marketing.  At these price levels, there are no parts of the Bakken, whether in the core areas of the play or on the periphery, where drilling new […]

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Quote – 12 January 2015

By on January 12, 2015 in Quotes

“Saudi Arabia and their allies have been very clear about not giving up market share.  It’s making development in the U.S. and other places sub-economic. There’s not much in the world that looks good at $50 oil.”   – R.T. Dukes, upstream analyst at Wood Mackenzie

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Top 10 News Stories of 2014

By on January 6, 2015 in Commentary, Peak Oil Review

By Steve Andrews and Tom Whipple – Editors, Peak Oil Review 1. Oil Price Crash The great price crash of 2014 could well turn out to be one of the defining events of the decade, for it has the potential to bring major changes to the oil markets, not only for the next five years, […]

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