International [Oil & Gas News] America Achieved Energy Independence As The World's Top Oil Producer (2018-2019)

It has to be $75 a barrel for Bakken oil to break even.
I can’t back up this up with a source but there’s over 800 wells in the Bakken that are drilled but still need to be fracked. I know Nabors has over 200 not fracked.

I would be very surprised if break even is anywhere near $75 in the Bakken today. SAGD is the highest cost extraction and producers have gotten their costs sub $20 USD through cost cutting and new tech.

The biggest cost in shale extraction is fracturing, but the frac industry is so cut throat post 2014, producers are looking at higher earnings per barrel now than when oil was +$100.

I would have to do some digging but I would be surprised if Bakken barrels weren't in the $10 range.

Edit:
Oh and producers will drill in shale formations and hold off on taking them to production for several reasons. Those 800 wells were most likely drilled solely due to historically low drilling costs, and left offline due to transport constraints, storage capacity, etc. Look at a drilled non producing well as free storage for the producer.
 
Yeah and it depends on the field too. 60 seems to be the break even in general for US fragging I saw a chart a while ago. Also with technology and the such I'm sure the break even will drift downwards over time.

I would be very surprised if break even is anywhere near $75 in the Bakken today. SAGD is the highest cost extraction and producers have gotten their costs sub $20 USD through cost cutting and new tech.

The biggest cost in shale extraction is fracturing, but the frac industry is so cut throat post 2014, producers are looking at higher earnings per barrel now than when oil was +$100.

I would have to do some digging but I would be surprised if Bakken barrels weren't in the $10 range.

How on Earth could you have missed the large colorful BEP charts right there on the first page?
 
Multi-Well Pad Drilling Technology and North America’s Shale Oil Boom
North America’s shale oil producers are leading the global market with the help of advanced drilling technologies
May 9, 2018​
Multi-well pad drilling—when multiple wells are drilled from a single drill site—is allowing companies to produce oil more efficiently and at a significant cost savings, resulting in record production for shale oil producers.

The market for multi-well pad drilling technology is expected to surpass US$180 billion by 2024, according to a report by Global Market Insights, as oil & gas sector companies look to more unconventional extraction methods to meet rising demand for energy resources. Analysts expect to see the most growth in the North American onshore market segment due to the large number of shale exploration and production projects.

“U.S. producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth,” the International Energy Agency (IEA) said in a February report. “We are seeing United States production rising very, very dramatically before our very eyes and that’s likely to continue in 2018,” Neil Atkinson, head of the IEA oil industry and markets division, told CNBC. The IEA believesthe United States may well surpass Saudi Arabia and Russia as the world’s leading energy producer by 2019.

Not to be outdone, Canada’s oil producers are also working hard to grab a bigger piece of the global oil market, with a focus on the Duvernay and Montney formations, which “could rival the most prolific U.S. shale fields,” reports the Financial Post. “Canada, by contrast, offers many of the same advantages that allowed oil firms to launch the shale revolution in the United States: numerous private energy firms with appetite for risk; deep capital markets; infrastructure to transport oil; low population in regions that contain shale reserves; and plentiful water to pump into shale wells.”

Multi-well pad technology behind shale oil boom

Traditional extraction methods involve drilling down vertically from a new pad—the location that houses the wellhead—for each new well, which means that even if the new location is merely a few yards away the rig needs to be disassembled, hauled to the next pad and then reassembled. This entire process can be time and labor intensive not to mention costly to both the company and the environment.

“Pad drilling allows producers to target a significant area of underground resources while minimizing impact on the surface,” states the U.S. Energy Information Administration (EIA). “Concentrating the wellheads also helps the producer reduce costs associated with managing the resources above-ground and moving the production to market.”

Multi-well pad drilling has “played a linchpin role in opening up capital-intensive tight formation oil plays . . . as part of a broader revolution in drilling and completion techniques,” according to Richard Mason, Chief Technical Director for industry publisher Hart Energy. “Pad drilling enabled the industry to employ factory-like economies of scale to shorten cycle time and increase rig productivity so that hydrocarbons are brought to market more quickly or, in the case of batch completions, in greater volume.”

Two innovations in the oil & gas sector are driving the market for multi-well drill pad technology: horizontal drilling and hydraulic walking systems.

Game-changer: horizontal drilling

Advancements in horizontal drilling is a close second to hydraulic fracking in terms of the technologies behind the increased levels of crude oil production in the United States and Canada over the past decade. The EIA recently reported that increasing nationwide oil production over the last few years has been largely driven by new shale oil well production which accounted for 54 percent of the country’s overall oil production in 2017. According to the EIA, higher productivity can be linked to growing use of hydraulic fracturing and the increased drilling of longer horizontal wells, which have brought down costs sharply.

Horizontal drilling has reduced the amount of time it takes to drill wells and is especially suited to unconventional oil plays such as shale, Leonard D. Jaroszuk, President and CEO of Enterprise Group Inc (TSX:E), told INN. “Well pockets can have multiple zones at various depths, the product in the ground can be extracted from multiple points horizontally or side pockets that may have been missed in past single well sites.” Enterprise Group provides access to specialized, high-end technology and equipment for companies in the energy industry.

Majority of multi-well pad drill rigs designed with a hydraulic walking system

“One of the industry’s more recent innovations, pad-to-pad moves, underscores the efficiency gains from rig mobility and pad drilling,” according to the EIA. These pad-to-pad moves were made possible by the advent of hydraulic walking systems, or walking rigs, which were first employed in shale operations in 2004.

Walking rigs are equipped with hydraulic rams that lift the drill rig and a track system that moves the rig to another location. This technological advancement allows companies to transport fully-assembled drill rigs from pad to pad without the cost and loss of productivity associated with rigging down and rigging back up. Drill rigs that can walk themselves to the next well site have also led to the design of more efficient and versatile pad configurations, cutting the time needed to drill multiple wells.

While multi-well pads using walking rigs accounted for about 5 percent of wells drilled in U.S. unconventional plays, by 2013 that number had reached 58 percent. “Today the number of these new mobile rigs has surpassed the number of older conventional units,” reported E&P Magazine.

Increasing efficiency, reducing costs and minimizing environmental footprint

The idea for onshore pad drilling has its roots in offshore drilling operations, where multiple direction wellbores are drilled from one platform. The advent of horizontal drilling coupled with improved rig mobility made possible by hydraulic walking systems allows companies to drill multiple wells (as many as five to ten) going in different directions from a single pad at surface—targeting several formations from a central location—while at the same time reducing both operational and environmental costs.

Pad technology allows companies to split containment and completion costs across multiple wells. “Multi-well pads lower site moving costs and improve efficiency as equipment is used on the same site for multiple wells and projects. This method drills several wells horizontally on one large pad rather than a vast number of singular wells spaced out across the frontier,”Jaroszuk told INN.

Rigs can be mobilized within a matter of hours rather than days, and only one pipe line is needed for multiple wells at one site, rather than a pipeline for each single well location. “A large and long-time client of ours, that is working in the Montney formation of Alberta and BC, has seen significant increases in downhole production and efficiencies in site costs over the years after transitioning from single well sites to multi-well pads. These benefits have played a big role in further implementation of multi-well pads,” said Jaroszuk. “We have grown alongside
this shift and have adapted and built our equipment to facilitate these pad site requirements and efficiencies.”

While a single pad can house as many as 10 to 12 wells, oil companies are finding the “sweet spot” is between four and six wells per pad. According to a report by Transparency Market Research, the multi-well pad market is forecast to expand significantly by 2025 with much of that growth being “dominated by the less than 6 pad size.”

Drilling multiple wells from one location also has environmental benefits in that it causes significantly less surface disturbance and means less road construction and less truck traffic—which translates into decreased diesel emissions. “Accessing multiple wells at one location also minimizes the environmental footprint because significantly less land surface is disturbed. Companies only need to build one road to a multi-well pad, whereas single well locations each need their own road access,” explained Jaroszuk.

The Takeaway

Multi-well pads, horizontal drilling and walking rig technologies have allowed the North American shale oil producers to compete as leaders in the global markets. With the growing demand for energy and fuel, that trend is likely to continue as US and Canadian oil companies find more ways to maximize production efficiencies through cost-cutting technologies.
https://investingnews.com/daily/res...ricas-drilling-efficiency-and-shale-oil-boom/
 
Last edited:
Knew this thread wouldn't generate much in response as it doesn't follow the woefully false narrative that America is in the midst of some kind of terminal decline. It's becoming entirely self-sufficient and it's only a matter of time before upholding the position as guarantor of global free trade and security (at great expense) are outright dumped altogether to a posture more closely resembling pre-1945. It's willfully going to break its own 'empire'.

wha????

you do realize our crude oil production has been climbing up and up since 2009 yes?...
 
Sorry for that. I wanted to make a good post here, but I am lazy and busy
 
Citi: U.S. To Become World’s Top Oil Exporter
By Tim Daiss - May 02, 2018

81070cdd9cae603eaeb9df6e47603c8c.jpg

As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.

The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added.

However, it should also be noted that the Citi projection is for both crude and finished (refined) petroleum products, not only crude oil. Saudi Arabia remains the world’s largest exporter of crude, though since January amid the OPEC/non-OPEC production cut agreement that figure has fallen. On April 10, the Saudi oil minister said that the kingdom planned to keep its crude oil shipments in May below 7 million bpd for the 12th consecutive month.

Saudi Arabia has also trimmed its oil production more than 100 percent of the output cuts it agreed to under the January 2017 production deal. In March, Saudi crude production was at 9.91 million bpd, below the deal’s output target of 10.058 million bpd.

Russia, however, also part of the global oil protection cut agreement, increased its crude oil production by 0.2 percent to 10.97 million bpd in March, compared to the previous month and an 11-month high.

Though Citi has projected that the U.S. could bypass Saudi Arabia in the export of crude and petroleum products, U.S. crude oil exports have been relatively low compared to other major oil producers since the Obama Administration lifted the ban of American crude oil exports in 2015.

Nonetheless, U.S. crude exports are poised for an upward trajectory. On Wednesday, the U.S. Energy Information Administration said the U.S. crude exports last week increased by 582,000 bpd to 2.331 million bpd, an all-time high.

https://oilprice.com/Energy/Energy-General/Citi-US-To-Become-Worlds-Top-Oil-Exporter.html
 
Last edited:
wha????

you do realize our crude oil production has been climbing up and up since 2009 yes?...

Wha? I'm from North Dakota, so it'd be difficult not to be aware of it and I've directly referred to the technologies that halved the break-even point on production as well as the state's sovereign wealth fund in this same thread. Becoming the world's largest oil producer and gaining energy independence is news and one part of it in addition to manufacturing reshoring and rapid re-industrialization taking place.

However, what I'm referencing is the United States overall outlook and dwindling interests in maintaining the global order it laid down itself; how unnecessary it's becoming to engage in multilateral free trade and a continued commitment to serve as its guarantor which comes at great and largely its own, sole expense.
 
That had a point when the US had to back his currency with gold, now that was quite a monumental effort, but nothing backs the US dollar today so its a nice racket to get milked as long as it lasts.

And what is going to be the alternative? The CCP in China wants absolutely nothing to do with the free capital markets and inflows, reduced exports and increased unemployment that comes with being the world's reserve currency. It would delegitimize the regime and their whole existence is like one big vested interest against it. Europe is in terminal decline and the EU is flinging towards a tailspin not only due to Brexit but increasingly fraught economic disagreements between Germany and France.

What role can directly adversarial Russia play? It's population is projected to plummet by 32 million people by 2050, the young-old ratio is being flipped upside down in a bad way, the average male's life expectancy is less than 60 years; they've got a birth rate half the global average, a death rate nearly twice the global average, rampant alcoholism at epidemic levels, a woefully limited economy with a smaller GDP than three individual US states and the place is essentially run by mobsters.
 
And what is going to be the alternative? The CCP in China wants absolutely nothing to do with the free capital markets and inflows, reduced exports and increased unemployment that comes with being the world's reserve currency. It would delegitimize the regime and their whole existence is like one big vested interest against it. Europe is in terminal decline and the EU is flinging towards a tailspin not only due to Brexit but increasingly fraught economic disagreements between Germany and France.

What role can directly adversarial Russia play? It's population is projected to plummet by 32 million people by 2050, the young-old ratio is being flipped upside down in a bad way, the average male's life expectancy is less than 60 years; they've got a birth rate half the global average, a death rate nearly twice the global average, rampant alcoholism at epidemic levels, a woefully limited economy with a smaller GDP than three individual US states and the place is essentially run by mobsters.

China certainly wants the Yuan to be used as international currency, Xi Jinping though doesnt wants as you said completely free capital flows, at least not right now while his power is being consolidated. China is moving towards pricing some contracts in Yuan, i think they opened up some yuan oil futures this year.

But you are right, there is little to no alternative ATM.

Thats why you can run trillion dollars deficits and still get an AAA+ rating and some of the lowest interest rates on sovereign debt in the world.
 
Anyone remember this?

https://www.ozy.com/acumen/the-us-is-beating-china-on-the-factory-floor-this-is-why/71321

image.png


The domestic energy boom in natural gas and fracking has lowered the cost of materials and operations, prompting more factories to return to U.S. soil. Then there’s proximity to a growing field of local suppliers that provide raw materials. And keeping production in the country means there are no duties and tariffs, reduced inventory carrying costs and R&D innovations on the factory floor aren’t at risk of intellectual property theft. Also, the U.S. doesn’t have to lower its prices or wages to be competitive with China; it needs only “a lower total cost to produce that product,” Moser explains.

.....

RESHORING INITIATIVE 2017 DATA REPORT: RESHORING PLUS FDI JOB ANNOUNCEMENTS UP 2,800% SINCE 2010

In 2017 the combined reshoring and related foreign direct investment (FDI) announcements surged, adding over 171,000 jobs in 2017, with an additional 67,000 in revisions to the years 2010 through 2016. This brings the total number of manufacturing jobs brought to the U.S. from offshore to over 576,000 since the manufacturing employment low of 2010. The 171,000 reshoring and FDI job announcements equal 90% of the 189,000 total manufacturing jobs added in 2017.

In 2017 announcements of combined Reshoring and FDI jobs were up 122% compared to unrevised 2016 totals and 52% compared to revised 2016 totals. We believe the huge increases were largely based on anticipation of greater U.S. competitiveness due to expected corporate tax and regulatory cuts following the 2016 election. Similar to the previous few years, FDI continued to exceed reshoring in terms of total jobs added, but reshoring has closed most of the gap since 2015.


dr3.png
 
Wha? I'm from North Dakota, so it'd be difficult not to be aware of it and I've directly referred to the technologies that halved the break-even point on production as well as the state's sovereign wealth fund in this same thread. Becoming the world's largest oil producer and gaining energy independence is news and one part of it in addition to manufacturing reshoring and rapid re-industrialization taking place.

However, what I'm referencing is the United States overall outlook and dwindling interests in maintaining the global order it laid down itself; how unnecessary it's becoming to engage in multilateral free trade and a continued commitment to serve as its guarantor which comes at great and largely its own, sole expense.

I wasn’t addressing that... I was questioning this:

Knew this thread wouldn't generate much in response as it doesn't follow the woefully false narrative that America is in the midst of some kind of terminal decline. It's becoming entirely self-sufficient and it's only a matter of time before upholding the position as guarantor of global free trade and security (at great expense) are outright dumped altogether to a posture more closely resembling pre-1945. It's willfully going to break its own 'empire'.

But after rereading I was wrongly assuming that you thought this is a recent change as to why there’s isn’t much response. Nvm...
 
Anyone remember this?

https://www.ozy.com/acumen/the-us-is-beating-china-on-the-factory-floor-this-is-why/71321

image.png


The domestic energy boom in natural gas and fracking has lowered the cost of materials and operations, prompting more factories to return to U.S. soil. Then there’s proximity to a growing field of local suppliers that provide raw materials. And keeping production in the country means there are no duties and tariffs, reduced inventory carrying costs and R&D innovations on the factory floor aren’t at risk of intellectual property theft. Also, the U.S. doesn’t have to lower its prices or wages to be competitive with China; it needs only “a lower total cost to produce that product,” Moser explains.

.....

RESHORING INITIATIVE 2017 DATA REPORT: RESHORING PLUS FDI JOB ANNOUNCEMENTS UP 2,800% SINCE 2010

In 2017 the combined reshoring and related foreign direct investment (FDI) announcements surged, adding over 171,000 jobs in 2017, with an additional 67,000 in revisions to the years 2010 through 2016. This brings the total number of manufacturing jobs brought to the U.S. from offshore to over 576,000 since the manufacturing employment low of 2010. The 171,000 reshoring and FDI job announcements equal 90% of the 189,000 total manufacturing jobs added in 2017.

In 2017 announcements of combined Reshoring and FDI jobs were up 122% compared to unrevised 2016 totals and 52% compared to revised 2016 totals. We believe the huge increases were largely based on anticipation of greater U.S. competitiveness due to expected corporate tax and regulatory cuts following the 2016 election. Similar to the previous few years, FDI continued to exceed reshoring in terms of total jobs added, but reshoring has closed most of the gap since 2015.


dr3.png

@VivaRevolution
 
U.S. East Coast refiners look to Texas crude for discounted oil
Jarrett Renshaw, Devika Krishna Kumar | May 9, 2018https://www.reuters.com/journalists/devika-krishna-kumar

r

NEW YORK (Reuters) - U.S. East Coast refiners are shipping more shale oil from the Gulf Coast thanks to heavy discounts for West Texas crude and are also looking to bring more via rail, but supply bottlenecks are making it difficult to secure more barrels.

Producers are pumping record volumes of oil from the Permian basin, the biggest oilfield in the United States and the source of most of the country’s shale oil, and that is straining the region’s energy infrastructure.

Pipelines from west Texas to the Gulf Coast are full, and developers will not finish new lines until next year. Rail terminals are nearly all dedicated to bringing supplies to shale producers such as the huge volume of sand used to extract oil from the ground. In the last seven years, crude has gone to the East Coast by rail in just one month - June of last year.

The transport bottlenecks could limit the pace of growth of shale production, and as pipelines fill, the price of oil in the region has fallen.

Permian basin oil is selling at the steepest discount to benchmark U.S. prices in 3-1/2 years WTC-WTM WTC-WTS after production there surged to a record of around 3.2 million barrels per day (bpd).

Even as U.S. crude Clc1 futures trade at more than $71 a barrel, Midland, Texas-based shale is changing hands at around $58 a barrel.

That has caused East Coast buyers to jump on the chance to purchase cheaper U.S. crude, boosting flows from the Gulf Coast to the East Coast to three-year highs. In the December-to-February period, an average of 2.8 million barrels went from the Gulf to the East Coast per month, according to figures from the U.S. Energy Information Administration, the highest three-month average since the same period in 2015.

For a graphic on West Texas crude discounts, click here

Refiners such as Monroe Energy and Phillips 66 (PSX.N) have been bringing barrels by sea to their facilities in the Philadelphia region. In addition, both companies are exploring how to bring crude by train as pipeline bottlenecks are making it difficult to increase volume by sea, according to sources familiar and company executives.

“It’s a niche opportunity with a limited lifetime but that’s what the marketplace needs right now - more takeaway capacity,” said Phil Dalton, director of crude strategy and development at Murex, a distribution firm with a rail terminal in the Permian basin.

Pipeline capacity out of the Permian could be short by about 750,000 barrels a day by September 2019, according to PLG Consulting, as they estimate Permian production could hit 4.25 million by then.

Murex said last week that it would more than double capacity by the third quarter to allow its facility, operated with Cetane Energy, to load a unit train of 75,000 barrels of oil every day.

There are currently 15 rail loading terminals in the Permian region with the ability to load 500,000 to 600,000 bpd, according to market intelligence firm Genscape.

A ramp-up in rail shipments would require additional efforts, including cleaning rail cars, said Ezra Yemin, chief executive officer of refinery Delek U.S. Holdings (DK.N), on an investor earnings call on Wednesday. “Some of the railroad companies are not as attuned or as receptive to this idea like they were four, five years ago,” he said.

About 70 percent of Delek’s crude is from the Permian, as it has several refineries in or close to that region.

PBF Energy began exploring the idea of bringing Texas barrels by rail roughly two weeks ago as that oil cheapened, the company’s CEO, Thomas Nimbley, told investors.

Just 46,000 barrels of crude have been railed to the East Coast from the Gulf region in the last seven years, according to EIA data, all in June 2017.

GULF OIL HEADS EAST
Monroe Energy and Phillips 66 have stepped up their use of U.S. tankers to bring crude to the East Coast, according to sources and Reuters shipping data. The exact volumes of crude oil delivered to these refineries is unclear.

Monroe Energy’s 185,000 barrel-per-day refinery outside Philadelphia has received at least four shipments by tanker in the last 90 days from Texas ports, Reuters shipping data shows.

Phillips 66 has been using a tanker to carry crude from Texas to its Bayway refinery in Linden, New Jersey, two sources familiar with the shipping details said.

Several pipeline projects are already in the works, with at least 1.5 million bpd of new capacity expected by late 2019. In the meantime, “crude by rail will not be able to grow quickly enough to meet the short term demand,” PLG said.

https://www.reuters.com/article/us-...oon-hands-back-his-private-jets-idUSKBN1IB2JR
 
It's global market so prices are dictated beyond US Production and Supply
Certainly, but the USA is the biggest oil consumer. It has now become a major player in oil production, so we should have more sway over oil prices, and not just be dependent on the whims of OPEC. I live next to a major port, and its shocking to see the endless miles of oil rail cars being sent to the refinery to then be sent over seas. Prices are ever rising, and year after year the oil companies post RECORD profits.
 
US oil and gas production is leaving Saudi Arabia and Russia behind
By Michael J. Coren | May 23, 2018
oil-companies-language-e15260658144061.jpg


For seven straight years, the US has pumped more oil and gas out of the ground than any other country.

That lead will only widen, states the US Energy Information Administration (EIA).

The independent energy statistical agency describes the US as “the undisputed oil and gas leader in the world over the next several decades.” It comes as Russia and Saudi Arabia are constraining production to lift prices, while new technology is making vast new pools of once unprofitable hydrocarbons economical to extract in the US.

In an analysis released May 21, the EIA estimates that the US pumped the equivalent of 30 million barrels of oil per day in 2017, a record high. (The figure includes all hydrocarbons such as natural gas, crude oil and others.) That puts the US well ahead of other major producers, including Russia and Saudi Arabia.

US natural gas production stole the top spot from Russia in 2008, and exceeded Saudi Arabia’s oil production in 2013. Since 2008, US petroleum and natural gas production has jumped nearly 60%.

atlas_H1rQtVzJ7.png

What happened? New fracking and drilling technology unlocked cheap ways to extract US shale oil and natural gas, even as consumption stayed steady. That has allowed the US to satisfy more of its own consumption, while relying on Canada for most (40%) of its imports.

Petroleum imported from Persian Gulf countries now accounts for just 1.74 million barrels per day, or 17% of the total.

https://qz.com/1285134/the-us-is-the-worlds-top-oil-and-gas-producer-for-the-7th-year-straight/
 
And what is going to be the alternative? The CCP in China wants absolutely nothing to do with the free capital markets and inflows, reduced exports and increased unemployment that comes with being the world's reserve currency. It would delegitimize the regime and their whole existence is like one big vested interest against it. Europe is in terminal decline and the EU is flinging towards a tailspin not only due to Brexit but increasingly fraught economic disagreements between Germany and France.

What role can directly adversarial Russia play? It's population is projected to plummet by 32 million people by 2050, the young-old ratio is being flipped upside down in a bad way, the average male's life expectancy is less than 60 years; they've got a birth rate half the global average, a death rate nearly twice the global average, rampant alcoholism at epidemic levels, a woefully limited economy with a smaller GDP than three individual US states and the place is essentially run by mobsters.

So if you are correct, I have a prediction. If the US stops in it's roll as world police, the Russian-German alliance will be formed to replace us.

The only thing that has prevented this alliance from forming, is the US.
 
It certainly provides a range of options and leverage, I just find it very telling that of the 24 initial Presidential candidates for the 2016 bid, only one of them - John Kasich - strongly advocated maintaining the international free trade arrangement the US has been facilitating post-1945. We'll see how badly eroded diplomatic relations with our 'allies' (who view us with smug contempt) are by the end of the decade.



Gotta love the Saudis attempting to crush US shale with their pricing war a couple years back. In fact, all it did was push forward the technological development of microseismic exploration and multilateral drilling that also leverages Big Data live information. Try again, cunts.



Because multilateral 'free trade' isn't much in our direct economic interests. The US is already the most self-sufficient economy in the developed world and barely one-third as dependent on exports as any of the European or Asian majors. Indirectly subsidizing the globe and granting full access to our markets, running massive trade deficits all the while maintaining global maritime security on our dime on the strength of the US Navy is getting pretty old as is and that's ultimately hundreds of billions that could be redirected elsewhere, but more importantly it's a sentiment that's gradually growing in Washington circles on both sides of the spectrum. It's not merely a DJT phenomenon, but we'll see.

Someone works for OFS, GPE or Gaffney Cline?
 
Last edited:
Back
Top