Artful Wall Street analystsArtful Wall Street analysts interpret petroleum reserves for the world – what could go wrong?"
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The energy information flow is as poorly structured and unhelpful as a tourist information booth run by economists or the Hell’s Angels. The former aspect is represented by hopelessly dull statistics that everyone ignores, published regularly by energy information sites like the IEA (not to be confused with the AEI or IAE – see, it’s hopeless).
How does this imbecility happen? Here’s an example of a current legend in the oil patch: the dissected a few weeks ago) implying like Range Resources that they have “thousands” of wells in the Marcellus capable of delivering more than 30 million cubic feet per day, a sum equal to 70 percent of the US’s entire production if it were possible.
With respect to the Marcellus, it’s worth a second to test the “100 years of gas” hypothesis. First, recall that the Marcellus is considered to be the lynchpin of US natural gas supplies for many decades to come, an area that will flood the US with gas and keep prices down, provide feedstock for exports, and power the US to a greener future. Here is one Utica) can provide 800 trillion cubic feet of natural gas at a break even price of less than $3/mmbtu.
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The truly sad part is that the public has a deeply flawed understanding of the capacity of the energy industry to keep them awash in cheap energy. We have handed the responsibility for explaining it clearly to vested interests that also are not shy about using it to their advantage. Someday when a real supply crunch hits, we will sorely regret that decision.'
https://boereport.com/2017/04/05/artful-wall-street-analysts-interpret-petroleum-reserves-for-the-world-what-could-go-wrong/
Read more insightful analysis from Terry Etam
