Next energy crisis will be a doozy. Think Jimmy Carter X 10
Rig counts and new drilling is at historical lows. Shale fields tend to decline very quickly, so US oil production will soon drop significantly.
Now you have Obama and his leftist masters stopping pipelines and talking against drilling
I noticed that diesel has popped over 3 bucks a gallon this week. I’m keeping one cheap small car in the fleet as a hedge against fuel costs / availability.
If the pumps go dry though, SlowJoe’s “popularity” is going to be about as much as Bill Cosby...
The plan is to keep us isolated, scared and starving. (Think supermarkets and food)
That is all...
....when he was a candidate, if I recall correctly, didn’t that PoS Biden crow about creating dozens (maybe hundreds...?) of “good, high-paying union jobs...” after he became President...?? well, what happened to all those “good high-paying union jobs” that have just been eliminated with his exec. order shutting down that XL pipeline...?
the man and his handlers are total frauds, nothing less...
God bless this great country.....
Shale wells come on strong usually around 1800 to 2500 barrels per day for the first 90 days then it’s a decline curve we in the industry call it the wells Type curve. A “good” well in the Midland basin is a 2MMboe type curve. Which means over the 20 YEAR life time of that well it will ultimately produce 2,000,000 barrel of oil equivalent. Usually after the first 180 days or POP180 the bbl/day is still over 500 and slowly declining so that at a year or POP365 it’s down to 300_400 per day and it levels at at that rate for the next decade or two. I’m a operations and a developmental petroleum geologist I have personally drill thousands of Midland basin well over a decade and half of doing it. For the last two years two of the major operators I contract with have been DUC-ing wells. That means drilled and uncompleted. They are temporarily capped at the surface and can be worked over and have a frac job run on them in 9 to 14 days then they flow back for a week and get POPd all in less than a month. There is thousands of DUCd wells just sitting ready to be POPd when the price comes back up to justify putting them on production. There won’t be any shortage of West Texas oil at $60+ bbl there’s literally thousands of DUC and idle wells just waiting for prices to rise. That does not take into account stripper wells which number in the multi thousands that are idle rigit now or pumping the minimum lease obligations.