I’m not buying the EIA’s estimate of flattening supply increase after the end of 2015 and the topping of US production at 9.4 million barrel’s @ day.
Unless lower prices chop back drilling, production increases from 2016 through 2019 are will likely be at least 700,000 barrels @ day annually. That number may rise to 1 million barrels@ day increase annually 2016-2019—if the Permian basin production keeps rising ever faster.
What’s the historical accuracy rate for EIA estimates?
My experience with government is that it’s no better than random chance at estimating the future.
You mean to say you don’t believe we are going to become energy independent at the current consumption rates?
You also mean to suggest that fracing source rocks and depleted reservoirs will not result in endlessly high production rates?
I’ll be dashed. Knock me over with a feather.