RE:RE:US Strategic Petroleum ReserveIs the US difficulty replacing more than annual oil depletion all equipment related?
There are three reasons I can think of
1. Equipment
2. Money
3. Reserves
The first two can be addressed. The third can't
Most producers now have access to money - so making more available ought not to make a difference
Equipment. When you see the rig count decline at a time of high oil prices it makes one wonder if there is a bottle neck here
There is no doubt that US nat gas production is at a record high while oil seems to be holding flat. That seems to support the theory that US shale wells are now being drilled in lower tier locations that have a higher gas to oil ratio
If the US is having trouble replacing annual oil declines because it's tier 1 and 2 locations are already drilled - then there is very little they can do about it