Posted on 01/30/2022 8:52:57 AM PST by rktman
That OPEC’s spare oil production capacity was a problem that was only going to get worse with time became clear last year when the first reports began to emerge that the cartel and its partners led by Russia are not adding as much oil to their monthly output as agreed. Now, the gap between commitment and output has deepened, adding fuel to an already strong price rally.
In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target for yet another month in a growing row. Naturally, this fueled concern about the security of global supply amid forecasts from the International Energy Agency that oil demand is going to exceed pre-pandemic levels later this year.
This latest forecast could be confusing to many who follow the agency’s output. In December, the IEA said that oil demand growth was going to slow down this year. It also forecasted a possible oversupply on the oil market for the current quarter, citing the effect of the Omicron variant on fuel consumption and rising non-OPEC production.
(Excerpt) Read more at oilprice.com ...
This is the Brandon production shortfall.
Yep. It wouldn’t make the Left look good if we were energy independent. So Brandon said no. Now we’re back on track. You have an ICE vehicle? That’s your last one ever.
Brandon production? You mean like a one act play cause the only other thing he’s producing (besides hate and division) is showing up in his drawers.
Once the environmentally-ill find out how many fossil fuel electrical plants are necessary for their version of utopia ….. does anyone believe the environmentally-ill could have a come to the truth moment ? No, their lies and their liars have not and will never believe the truth
Their “truth” is the only REAL truth. Just ask them. Then toss this list on the table and tell them you’ll wait:
1. Define the “correct” temperature range for the planet.
2. Define the “correct” humidity range for the planet.
3. Define the “correct” mean sea level for the planet.
4. Define the “correct” amount of precipitation for the planet.
5. Define the “correct” makeup of the atmosphere.
6. Define the “correct” amount of sea ice at the N/S poles.
7. Define/explain past glaciation and subsequent warming without any input from humans.
In having dealt with liberals in the past, liberals have said numerous times, “it’s whatever we say it is”. Can’t reason with liberals …. liberals have moslem attitudes … imho
Just a small sample of comply or lese democrat deal.
Hope oil goes 2 150 a barrel
Yeah, that would be amazing. Anot hff er shitdown. Gas is just not expensive enough. We sure wouldn’t want anyone to be able to afford heat.. well not if it benefits me personally.
They will never admit to it. They were raised in the 50’s.
The 60’s born are a bit different.
The 70’s born are a bit different.
The 50’s born are the Beatles.
The 60’s born are Van Morrison
The 70’s born are the Cars.
>> Dang it all. Sure wish someone could figure out someplace else to suck some more FOSSIL fuel out of the erf.<<
We are flush with natural gas and the end is not yet in sight. After depleting all well gases, we can start dredging an almost unlimited supply of sub-sea methane hydrates from both Atlantic and Pacific coasts. That, by itself, is an offshore energy industry providing an unlimited number of jobs. But, in the meantime, we have to contend with a destructive Biden who desires the worst for his country.
Definitely
Stolen elections have consequences
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