Saudi Arabia Reveals Oil Output Is Near Its Ceiling

Washington Post ^

[bert]

The only solution at hand is nuclear power produced by small and inexpensive reactors scattered in strategic locations

And, rather than eliminate oil, America should exterminate the envirowackos. Envirowackos are the real problem

[Track9]

Dinosaurs make new oil ever day. We’d probably have more tectonic activity around the world if we didn’t pump oil.

[Track9]

Thanks for the info.

[Slingwing]

Matters not that Saudi is at full tilt, if you do not have the refining capacity nothing changes.

[ealgeone]

Saudis understand supply and demand.

[know.your.why]

...its maximum production capacity to 13 million barrels by 2027, up from 12 million.

Thanks to Trump policies, U.S. crude oil production grew 11% in 2019, surpassing 12 million barrels per day. Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels. The 2019 growth rate was down from a 17% growth rate in 2018. In

[SomeCallMeTim]

I’ve been hearing from people that should know, that the Texas Permian shale fields are very near (if not at) maximum capacity. We just have too many headwinds limiting production: lack of investment, people, pipelines and permits.

[FarCenter]

The Saudis are adding significant refinery capacity at home and in China and India.

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/062822-saudi-refining-capacity-rises-14-in-2021

[Romans Nine]

Thanks for pointing that out.

The earth grows oil.

[BobL]

“Prince Mohammed framed his answer emphasizing that the world — and not just countries like Saudi Arabia — needs to invest in fossil-fuels production over the next two decades to meet growing global demand and avoid energy shortages.”

We’ll see about that. If Ukraine drives out Russia, then the West will be running the world, and will put an end to the use of fossil fuels - which is the REAL goal here. If Ukraine doesn’t prevail, then Saudi Arabia is right, and demand for fossil fuels will continue to grow.

[FarCenter]

The most likely outcome in Ukraine is that there will be two losers regardless of the outcome.

Both Russia and NATO will be enervated by the conflict.

The Islamic, Hindu, and Buddhist civilizations will continue their rise.

[clearcarbon]

"Saudi Arabia Reveals Oil Output Is Near Its Ceiling"

The "Peak oil" concept is being resurrected.

[isthisnickcool]

The Biden family is stealing like they never have before,