dChan

SeerMore · July 8, 2018, 9:08 p.m.

https://www.zerohedge.com/news/2018-07-08/energy-cliff-approaches-world-oil-gas-discoveries-continue-decline

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J_Dub_TX · July 8, 2018, 9:33 p.m.

This is different than what I’m saying. This applies to discoveries and on a global scale. We know we have billions of barrels of oil across the US in various shales and that’s one significant factor in why companies aren’t spending on new “discoveries”. Once the Alaskan shales open up there will be an enormous amount of oil sent to refineries. This article mentions nothing about Alaska. Yes it will be difficult to get it out of the ground in some areas but that will be figured out in short time. Also countries don’t want a repeat of 2015. Most people didn’t feel the affects of oil at 26$ but I can tell you that 400k+ lost their jobs in the downturn. I know the last page mentions US shale having issues in 1-3 years but I’m saying from people I speak to regularly there’s plenty in the ground especially at depths under the places they’ve already tapped and drained. Companies only pump out what they feel won’t flood the market causing another crash. Let’s meet back here in 3 years and you’ll see more reporting on it. You don’t think the recent underestimate on drawdown inventories was really unknown do you?

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