Under certain conditions the economy becomes very wasteful, and this is a recipe for disaster. The public debt load is unsustainable under the current economic conditions. They are reasonable under real growth, but currently, the US is not under stable conditions. The largest Us global corps are falling deeply behind the rest of the world. Companies like Lockheed and Boeing are large employers in the arms trade. This is an extremely vulnerable industry. The oil and gas, coal and even natural gas, are going to produce unmanageable expenses related to pollution. The health care system has so much potential, but the system seems unsustainable. Pharmecuetical corporations are loosing, and obviously so! as potent pharms are unsustainable for the consumers. An economy needs strong social tenets. Capitalism is great, if those in charge are capable. Capabilities are dependent on teaching and learning. Although the US likes to admit they are leaders in science and tec, this is not entirely true. These are multinational companies, acquiring the brightest minds from around the world. Religion tends to relinquish personal power, and therefor diminishes our own personal capabilities. Charity culture pervades the united states, and as people feel sorry for them selves, they miss out on the great adventure of life. Unabated science is the best and most realistic avenue for growth. The united states is along ways away from this reality. near term, long term Short USD long gold
This interactive presentation contains the latest oil & gas production data from 93,991 horizontal wells in 10 US states, through June. Cumulative oil and gas production from these wells reached 9.1 Gbo and 101.4 Tcf.
Visit ShaleProfile blog to explore the full interactive dashboards
In just one and a half year, production from these wells grew by more than 1.5 million bo/d and 10 Bcf/d. Operators increased the pace of drilling and completion activity, and as the ‘Well quality’ tab shows, average well performance also slightly increased from 2016.
Wells were completed with longer laterals on average, and proppant loadings increased even more. You can try out our ShaleProfile Analytics service for more details on these trends, e.g. on an operator/basin basis.
The two largest shale oil operators, EOG and ConocoPhillips, set new records in June (‘Top operators’ tab).
The ‘Advanced Insights’ presentation is displayed below:
This “Ultimate recovery” overview shows the relationship between production rates and cumulative production over time. The oil basins are preselected, and wells are grouped by the quarter in which production started.
You can see that wells have been tracking steadily higher recoveries over the past years. Since the end of 2016, the pace of improvements appears to have slowed down.
Later this week I will have a new post on North Dakota, which just released production figures for August.
Production data is subject to revisions. For these presentations, I used data gathered from the sources listed below.
Colorado Oil & Gas Conservation Commission
Louisiana Department of Natural Resources. Similar as in Texas, lease/unit production is allocated over wells in order to estimate their individual production histories.
Montana Board of Oil and Gas
New Mexico Oil Conservation Commission
North Dakota Department of Natural Resources
Ohio Department of Natural Resources
Pennsylvania Department of Environmental Protection
Texas Railroad Commission. Individual well production is estimated through the allocation of lease production data over the wells in a lease, and from pending lease production data.
West Virginia Department of Environmental Protection
West Virginia Geological & Economical Survey
Wyoming Oil & Gas Conservation Commission
Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2CJZ2DJ
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Oil use is overestimated. Our perceived outlook on the importance of oil is completely distorted. Humans have a hard time looking both into the past, and also into the future. Unless someone has done extensive research on history of all eras, and had real conclusions on just how the world works, until someone has then used this same historical approach and applied it to the future, how then can one really have a bearing on where they stand in the scale of things. OIl is a revenue generator, like war. The speed at which humans can transform, especially today, is unprecedented, even in a sequence of long changing systems- computerization, social media, free thinking, healthy cultural development, are contributing to this impending correction of industries. Historically speaking, industry was much more dependent. Thankfully populations rarely exceeded industry potential, and when such circumstances arrived- (human biological surplus), the ruling elite would simply go to war. Still Today, in certain regions of the planet, military is the only option of employment, and this will barely be the food you eat. Industry development is part of the healing process of our Fu%$ed up degraded systems that create military heroes, who in and of themselves have endured years of physical and psychological abuse. War in and of its self is the most disgusting part of humanity. Religion has accentuated the problem. Judaism, Catholicism, Islam are basically a SEX and VIOLENCE club. Many people are confused between being religious and being philosophical. Many philosophers think they are religious, because this is what society has eluded to- in relating to deep and introspective thinking. Believe in yourself before believing in god.
Oil is poisonous. WE are slowly poisoning ourselves to death. Climate change is a secondary issue, when compared with air pollution. Rising sea levels is the best thing that could happen to hummanity. Air pollution is not. FYI, the rising seas, and the increasing natural disasters are one of the best things that could be happening. AS many of you know, many cities are built on the ocean, and these cities have been using dykes, canals, and managing water systems for thousands of years. A rising sea, and coastal region vulnerabilities have been on the minds of humanity for a long time. And as an economist, it appears to me, we are about to embark on the largest infrastructure projects on the planet. China is leading the way with whats possible with infrastructure. However, to become carbon neutral, we will have to completely re imagine our priorities for infrastructure Furthermore, and you heard it here first, we are going to line, where necessary, the entire coastlines of the planet. We are going to build automated dike systems along major rivers, and along coastlines, that are literally going to be built along the entire stretches of important coast lines, and around islands. literally automated walls coming out of the ground, with unlimited height, and to such a degree that the automated dike system on the southern eastern coast of the USA, the walls will extend 100s of feet high to withstand hurricane winds. WE will have automated domes with 10km diameter circling a vulnerable community. as the storm approaches, with incredible infrastructure we will combat the natural disasters. ......................automated walls that line the important and neccesarry coastlines. The amount of copper, iron, lithium, zinc, graphite, cobalt, steel, aluminum and every other mineral we are going to need to embark on these projects is incredible. Im long term bullish on all the minerals. Im bullish on oil, because, like a dying lion, oil will push and push hard. Electricity will replace oil. Im bullish electricity. Gold will be a safe haven during so much confusion among currencies and economies.