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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.

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If liberty means anything it means the right to  tell people what they do not want to hear. - George Orwell


#3 stocks

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Posted 09 November 2017 - 01:55 PM

Trump China deal is U.S. largest energy export project  

 

Alaska and China signed a joint agreement to build a massive export project that’s designed to bring North Slope natural gas south to be liquefied and then shipped abroad. The project is estimated to cost $43 billion and could create 12,000 construction jobs.

 

The state of Alaska signed the deal in the presence of Trump and Chinese President Xi Jinping. Alaska Gov. Bill Walker said the deal would promote Trump’s energy dominance agenda and reduce the U.S. trade deficit with China.

 

“This is an agreement that will provide Alaska with an economic boom comparable to the development of the Trans-Alaska Pipeline System in the 1970s,” Walker said in a statement. 

 

 

 http://dailycaller.c...export-project/

 

 

 

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If liberty means anything it means the right to  tell people what they do not want to hear. - George Orwell


#4 stocks

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Posted 16 December 2017 - 07:48 AM

FRACKING OUR WAY TO MIDEAST PEACE 

 

Low oil prices have so eroded Arab states’ power, they now see Israel as a protector. 
 
The consequences reverberate in the Middle East and beyond. Future oil revenues to countries like Saudi Arabia, Iran, Venezuela, Russia and Iraq will fall trillions of dollars short of what once might have been expected. The shift in energy markets will benefit consumer economies like Japan, China, India and the nations of the European Union. 
 
But the greatest consequences are being felt in the Arab world, where the long-term decline in oil revenues threatens the stability of many states. It is not only the oil producers that will suffer; the prosperous Gulf economies have been a major source of opportunity for Egyptians, Pakistanis, Palestinians and many other Middle Easterners.
 
The shining cities that rise where the desert meets the Gulf may be in for harder times. The sheikhdoms’ glassy skyscrapers, gleaming malls and opulent apartment complexes were conceived for a world in which runaway energy demand and limited sources (remember “peak oil”?) led to inexorably rising prices. These fragile and artificial economies require hothouse conditions that a weakened OPEC can no longer provide. Now the great Gulf Bubble seems set to slowly deflate. 
 
 
 

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If liberty means anything it means the right to  tell people what they do not want to hear. - George Orwell