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US OIL PRODUCTION DECLINE UNDENIABLE

Those “drill baby drill” fanatics who still insist America is on the smooth road to energy independence might want to pump the brakes just a bit. A look at the latest report by the US Energy Information Administration shows US oil production is down over one million barrels per day since its June 2015 peak of 9.6 million. As of September 9, …

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The U.S. isn’t one of the top 10 most free countries in the world, study says

With costly healthcare, a stereotype of obesity and a culture of creatively fatty foods, “healthy” probably isn’t the first word that comes to mind when you think of the United States. But according to the Legatum Prosperity Index’s findings for 2015, the U.S. is the healthiest country in the world. However, when it comes to freedom, an ideal most Americans pride …

shale bubble

The Dark Side Of The Shale Bust By Nick Cunningham

The fallout of the collapse in oil prices has a lot of side effects apart from the decline of rig counts and oil flows. Oil production in North Dakota has exploded over the last five years, from negligible levels before 2010 to well over a million barrels per day, making North Dakota the second largest oil producing state in the country. But …

Shale

US Shale Oil and Gas Industry is a Ponzi Scheme Facing Collapse – Dylan Murphy

The mainstream media keeps churning out good news stories about the booming shale oil and gas industry in the United States. Apparently, the fracking industry is going to lead to America becoming the next Saudi Arabia with a hundred years of oil and natural gas. It will provide cheap energy supplies that will boost U.S. Industry and give a major …

Shale

Oil Market Uncertain As US Shale Boom “Goes Bust”

Oil market is uncertain as the US shale oil output is expected to fall for the first time in four years, and the coming months are likely to see a continuing price war between OPEC producers. Deutsche Bank, Goldman Sachs and HIS are now projecting that US oil production growth will now end. The global oil price rose slightly in …

bakkenshale77

Bakken Shale Oil Well Output Drops To Lowest Since 2009 – Tyler Durden

In addition to the EIA’s amusing oil price forecast, which as noted previously leaves quite a bit to be desired considering it was a year ago that the EIA completely failed to anticipate the plunge in crude prices, which have collapsed far below its worst case estimate… … there is another more substantial problem with the EIA predicting a consistent increase in …