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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests.

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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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The DOS SEIS accordingly takes a detailed look at life-cycle greenhouse gas emissions of petroleum products from Western Canadian Sedimentary Basin (WCSB) oil sands crudes compared with reference crudes and the potential impact the pipeline might have on climate change as well as on the future development of the oils sands resource in Canada.

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Opinion: Busting The “Canadian Bakken” Myth

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The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. Globally, their significance is harder to assess. But with U.S.

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White House: OPEC+ oil production increases “simply not enough”

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On Wednesday, US National Security Advisor Jake Sullivan issued a statement calling on OPEC+ to increase oil production: While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022.

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