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Response to cali (Original post)

Tue Jul 9, 2013, 04:22 PM

21. ANALYST: The Great US Energy Boom Is Already Stagnating

 

Last year was one for the ages for American oil production, as production grew a record 14%.

2013 has been a different story.

In a new note, AllianceBernstein's Bob Brackett argues U.S. oil production is now at an inflection point: Halfway through the year, growth has ground to a halt:

With EIA weekly production data through July 3rd, we are halfway through the year and production is up 282,000 KBOPD (thousand barrels of oil per day), or 564 KBOPD annualized. This number is below previous 800 KBOPD of growth (2012 v 2011) (Exhibit 9) and 1,000 KBOPD of growth (Dec-2012 v Dec-2011).

Here are the charts: weekly production data ...



Read more: http://www.businessinsider.com/us-energy-production-inflection-point-2013-7

US crude oil consumption is declining. Gasoline consumption is declining. Crude oil imports are declining faster, because US shale oil production is increasing.

However, shale production is now flattening.

I'd expect that crude oil use in the US will be declining, since our economy is not so much more competitive than others globally.

$10 / gallon gas is on its way here.

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cali Jul 2013 OP
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RobertEarl Jul 2013 #12
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suffragette Jul 2013 #9
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geek tragedy Jul 2013 #10
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