Worth keeping track of what the world leading US oil producers are doing, “The end is in sight” for US shale production, but will new technologies keep this zombie alive?
Cricket pumps are a sign that an oil well that is definitely past its prime.
High barrel prices will keep them pumping, but decisions to suspend operation of a well as the price dances is a tough one.
Many thanks. I looked up that Resilience article: very informative… and ominous.
“… As no sufficient alternative to oil will be deployed by the time the crisis is over, some are starting to suggest that a partial nationalization of the US oil industry might be in order.”
Cricket pumps are a sign that an oil well that is definitely past its prime.
High barrel prices will keep them pumping, but decisions to suspend operation of a well as the price dances is a tough one.
https://www.resilience.org/stories/2020-05-28/shutting-down-oil-wells-a-risky-and-expensive-option/
Many thanks. I looked up that Resilience article: very informative… and ominous.
“… As no sufficient alternative to oil will be deployed by the time the crisis is over, some are starting to suggest that a partial nationalization of the US oil industry might be in order.”
That’s right – let the tax-payer deal with it!
I can’t think of any political party or movement within the US that wants to nationalize the oil companies.
The taxpayers will have to clean up after a lot of bankrupt players, though.
https://www.reuters.com/markets/deals/ma-deals-permian-basin-exceeds-100-billion-2023-woodmac-2023-12-12/
“solidifies….multi-decade longevity”