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The age of energy super-abundance has arrived


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#1 stocks

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Posted 05 July 2017 - 02:06 AM

Permian shale boom in Texas is devastating for Opec 

 

The Opec oil cartel is waking up to an unpleasant surprise. Shale output from the Permian Basin in Texas is expanding faster than the world thought humanly possible.

 

The scale threatens to neutralise output cuts agreed by Saudi Arabia and a Russian-led bloc last November, and ultimately threatens to break their strategic lockhold on the global crude market for a generation.

 

"People just don't seem to realise how big the Permian is. It will eventually pass the Ghawar field in Saudi Arabia, and that is the biggest in the world," said Scott Sheffield, founder of Pioneer Natural Resources and acclaimed 'King of the Permian'.

 

"We think it could produce 8-10m barrels a day (b/d) within ten years.  

 

 http://www.telegraph...vastating-opec/

 

 


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#2 stocks

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Posted 05 July 2017 - 02:42 AM

The two biggest shale gas deposits in the U.S. are producing a record amount of the power-plant fuel

 

As natural gas prices rebound from last year’s historic lows, output from the Marcellus shale basin in the U.S. East and the Permian reservoir in Texas is driving a rebound in America’s production of the fuel.

 

Low-cost supply from the Marcellus is surging as new pipelines are built to shuttle gas to markets across the U.S. and Canada. Meanwhile, Permian output is rising as a recovery in oil prices boosts the production of gas that’s extracted alongside crude 

 

A deluge of new gas production from Texas and Pennsylvania threatens keep the U.S. awash in excess supply and lower prices nationwide, even as rising exports trim a glut of the fuel in storage. 

 

 https://www.bloomber...-supplies-surge

 

 


Edited by stocks, 05 July 2017 - 02:44 AM.

--

A nation of sheep will beget a government of wolves.― Edward R. Murrow