Pro-Life
3 years ago
This Time Is Different: Outside OPEC+, Oil Growth Stalls
By Javier Blas
May 30, 2021, 12:00 AM EDT
https://www.bloomberg.com/news/articles/2021-05-30/this-time-is-different-outside-opec-oil-growth-stalls
βThis time is differentβ may be the most dangerous words in business: billions of dollars have been lost betting that history wonβt repeat itself. And yet now, in the oil world, it looks like this time really will be.
For the first time in decades, oil companies arenβt rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending.
Pro-Life
3 years ago
Oil To $300?
BY TYLER DURDEN
FRIDAY, JUN 04, 2021 - 01:15 PM
By Doomsberg Substack
https://www.zerohedge.com/commodities/oil-300
βWe see a shift from stigmatization toward criminalization of investing in higher oil production.β β Bob McNally, former White House official, βThis Time Is Differentβ Bloomberg May 30, 2021
βFrom today, halt all investment in new fossil fuel supply projects and make no further final investment decisions for new unabated coal plants.β β IEA Roadmap to Net Zero by 2050
We are now ready to put the prices for natural gas in the chart above into shocking context. On an energy-contained-in-oil-equivalency basis, natural gas prices reached the following levels in February:
SoCal Citygate: $835 per barrel
Chicago Citygate: $752 per barrel
Houston Ship Channel: $2,320 per barrel
Waha: $1,196 per barrel
OGT: $6,919 per barrel
Henry Hub: $137 per barrel
Agua Dulce: $528 per barrel
Do I have your attention?