Oil is THE master resource. I think we can clearly see a global peak of supplies on the horizon. Multiple analytical firms are arriving at the same conclusion using their own methods.
As goes oil, so goes the entire economy and its rickety edifice of debt. If ever there was a forcing function that would finally kick the can kickers in their arses, it would be a spiking price of oil.
Remember, it was $147/bbl oil in 2008 that preceded the imminent arrival of the Great Financial Crisis (GFC). Could that happen again? You bet, and I bring the goods to make the case.
In this episode for subscribers, I dig deep and bring lots of data from different sources to reveal that more than 50% of the entire US’s amazing & stupendous increase in oil output of the past 3 years can be located down to just two states; TX and NM.
More than that, it can be further located down to just four counties, two in NM and two in TX.
As goes those four tiny parcels of land, so goes the entire US mythology about endless oily bounties that we can depend on forever and ever hey hosannah, can I get an Amen?
There’s plenty of evidence in expanding gas-oil ratios and flat production for the past 12 months that these four counties are now past their prime. It will now take more and more effort to simply hold production flat in these four counties.
by barbarah