North American oil production surge forecasted to transform world market in next five years

Wednesday, May 15th 2013 - 17:26 UTC

Full article 6 comments

The supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over the last 15, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR) released this week. Read full article

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Think
TWIMC

As I have said many times before.......
We are in the midst of a Shale Oil Revolution....
Bad timing and bad luck, English Squatters in Malvinas....
First oil in 2017.................................................... My left foot.
May 15th, 2013 - 06:07 pm - Link - Report abuse 0
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Troy Tempest
@1 Thinkedover

Good news for Argentina, right?

Your shale oil will be underground for years and you will be importing lots of fuel, starting this winter.

Good thing prices are low, as you have no reserves and no credit.
May 15th, 2013 - 06:46 pm - Link - Report abuse 0
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Think
TWIMC

I can highly recommend reading the IEA's Oil Middle Term Market Report 2013.......

http://www.iea.org/media/news/MTOMR_2013_OVERVIEW.pdf
May 15th, 2013 - 07:14 pm - Link - Report abuse 0
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Condorito
@1
Would orthodox Thinkonomic theory not sustain that this is good news for the FIs as their resources will stay “snug” where they are (as proclaimed by Che Think in the Vale case)?? Or are we applying heterodox and creative Thinkonomics?

Some clarification is required.
May 15th, 2013 - 09:04 pm - Link - Report abuse 0
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Beef
Thinky - the more we produce the more we consume, simple. Oil is most certainly going to flow from the Falklands and it is an attractive option. Stable economy, stable government direct access to international waters from the FPSO in the FI EEZ. It is a low risk option with arguably the most attractive tax and royalty regime in the world.

And Argentina gets none of it :) Unless you buy the Gas from FOGL et al that is. Cash (USD) only please, we know you Argies don't understand the concept of paying for things.
May 15th, 2013 - 09:25 pm - Link - Report abuse 0
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yankeeboy
Argentina may run out of all their U$ reserves this year trying...and I mean trying not necessarily succeeding to buy enough Gas to get them through the winter.
It is not even winter yet and they have to shut down major gas users to divert to residential.
How long with DOW, Ford and GM put up with this until they just bail?
Not too long I imagine

I am astounded that BCRA reserves are falling this time of year! It means that the fuel bill is far exceeding the Soy taxes.
Incredible
Even I didn't think these retards could f it up that much.
May 16th, 2013 - 09:46 am - Link - Report abuse 0
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