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FarCenter

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21. ANALYST: The Great US Energy Boom Is Already Stagnating

Tue Jul 9, 2013, 03:22 PM

Jul 2013

Last year was one for the ages for American oil production, as production grew a record 14%.

2013 has been a different story.

In a new note, AllianceBernstein's Bob Brackett argues U.S. oil production is now at an inflection point: Halfway through the year, growth has ground to a halt:

With EIA weekly production data through July 3rd, we are halfway through the year and production is up 282,000 KBOPD (thousand barrels of oil per day), or 564 KBOPD annualized. This number is below previous 800 KBOPD of growth (2012 v 2011) (Exhibit 9) and 1,000 KBOPD of growth (Dec-2012 v Dec-2011).

Here are the charts: weekly production data ...

Read more: http://www.businessinsider.com/us-energy-production-inflection-point-2013-7

US crude oil consumption is declining. Gasoline consumption is declining. Crude oil imports are declining faster, because US shale oil production is increasing.

However, shale production is now flattening.

I'd expect that crude oil use in the US will be declining, since our economy is not so much more competitive than others globally.

$10 / gallon gas is on its way here.

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By Hook Or By Crook... Oops, I Mean By Rail Or By Pipe, That Oil Will Be Moved [View all] cali Jul 2013 OP

kick cali Jul 2013 #1

Still selling the keystone, eh, cali? RobertEarl Jul 2013 #12

Quebec disaster highlights the danger in moving oil by rail cali Jul 2013 #2

And the recent Mayflower, Arkansas disaster Art_from_Ark Jul 2013 #4

yep, they both suck cali Jul 2013 #5

I can certainly understand your feeling about this Art_from_Ark Jul 2013 #6

The recent gasoline pipeline disaster in Bellingham, WA too suffragette Jul 2013 #9

I had forgotten all about that Art_from_Ark Jul 2013 #28

The path to our fixed purpose is laid with iron rails, whereon our nation's soul is grooved to run. Eddie Haskell Jul 2013 #3

Okay then. I mean whaat??? cali Jul 2013 #7

kick cali Jul 2013 #8

There's no good way to transport oil, the only way is to reduce demand. geek tragedy Jul 2013 #10

Every Plant And Tree Died’: Huge Alberta Pipeline Spill Raises Safety Questions As Keystone Looms G_j Jul 2013 #11

Yep. there's no good way or even least bad way. cali Jul 2013 #14

Oil and coal suffragette Jul 2013 #13

Political and econmic expediency will be the death malaise Jul 2013 #16

Yes, and profit for the few at the expense of the many suffragette Jul 2013 #19

You are a courageous soul for posting this. The answer is to produce energy locally> KittyWampus Jul 2013 #15

It's just the facts and many, many environmentalists say the same thing cali Jul 2013 #18

We don't agree often, but we do here suffragette Jul 2013 #22

Let China buy it. We don't need it down here. Motown_Johnny Jul 2013 #17

And what about the Salish sea and the areas along the routes? suffragette Jul 2013 #20

We can't control Canada, they are a sovereign nation Motown_Johnny Jul 2013 #23

The Salish Sea crosses the border suffragette Jul 2013 #24

I never said it would. I live near a watery boarder with Canada too. Motown_Johnny Jul 2013 #25

ANALYST: The Great US Energy Boom Is Already Stagnating FarCenter Jul 2013 #21

We could always leave the oil in the ground until we have this figured out NoOneMan Jul 2013 #26

ha ha. like that will ever happen cali Jul 2013 #27