Oil as an Exhaustible Resource by James Hamilton, which dovetails with the ISA idea worldwide oil production is on an undulating plateau, the shape of which will be determined by price.
“…crude oil production in Texas has roughly doubled in just the last three years, from 1.08 million barrels of output per day in September 2009 to 2.05 million barrels per day in September of this year (see chart above).” Mark Perry
The Bakken just gets better: CLR’s latest.
U.S. crude oil imports by country: EIA.
Rig counts from BMO.
Natural gas Prices Fall On Lower Demand and Moderate Temperatures, “…a bullish surprise is less likely.” Kyle Cooper
“…substantive policies to cap carbon emissions are either explicitly ruled out or implicitly sidelined.” (Raymond James). Strangely, I suspect carbon taxes are closer than ever.
“Nearly a quarter of the nation’s coal power generation capacity could shut down by 2035, as natural gas gains popularity as a cleaner and cheaper fuel for producing electricity, the U.S. Government Accountability Office forecasts.” Fuel Fix
Weak nuclear power output should support US nat gas prices at Sober Look.
“US coal production in the week ended Saturday totaled about 19.2 million st, 9.7% below that of the comparable week in 2011 and about 4.1% below the prior week, the Energy Information Administration said Thursday.” Platts