Cog wrote:Onlooker has been infected with the ETP bug and it has affected him badly. An injection of supply/demand is the only thing that can save the poor lad.
Don't worry
Cog wrote:Onlooker has been infected with the ETP bug and it has affected him badly. An injection of supply/demand is the only thing that can save the poor lad.
ROCKMAN wrote:P - As explained before the long term prediction of future drilling is dependent upon acuurately predicting the long term price of oil. A feat no one has yet been able to do consistently. So what are they predicting for the oil prices that will support their production prediction?
onlooker wrote:How about this for shocking or at least realistic
https://www.thestar.com/business/2017/1 ... gests.html
U.S. vastly overstates oil output forecasts, MIT study suggestsThe culprit, they say, lies in the Energy Information Administration’s premise that better technology has been behind nearly all the recent output gains, and will continue to boost production for the foreseeable future. That’s not quite right. Instead, the research suggests increases have been largely due to something more mundane: low energy prices, which led drillers to focus on sweet spots where oil and gas are easiest to extract.
Plantagenet wrote:ROCKMAN wrote:... the long term prediction of future drilling is dependent upon acuurately predicting the long term price of oil. A feat no one has yet been able to do consistently.
Thats partly true. Certainly an increase in the price of oil triggers off an increase in drilling.
But the world is very close to running out of untapped giant conventional oil to find. Drill all you want, but it isn't there.
Plantagenet wrote:And the projections for ever-increasing oil from TOS in the US are just nonsense.
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