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

Green Car Congress

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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Opinion: The Dark Side Of The Shale Bust

Green Car Congress

The fallout of the collapse in oil prices has a lot of side effects apart from the decline of rig counts and oil flows. But North Dakota was experiencing a lot of the negative side effects of an oil boom even before prices crashed. By Nick Cunningham of Oilprice.com. Source: [link].

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

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The SEIS notes that while increasing domestic production of crude oil and decreasing demand for liquid transportation fuels will likely reduce the demand for total US crude oil imports, it is unlikely to reduce demand for heavy sour crude at Gulf Coast refineries.

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State Department releases Keystone XL Final Supplemental Environmental Impact Statement

Green Car Congress

Market analysis: cross-border pipeline constraints have a limited impact on crude flows and prices. The earlier 2011 Final EIS was developed contemporaneously with the start of strong growth in domestic light crude oil supply from tight oil formations, such as those formations found in North Dakota’s Bakken region. million bpd.

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Opinion: Busting The “Canadian Bakken” Myth

Green Car Congress

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. enthused the Financial Post. WTI crude closed at $59.13 on Friday, June 5 th.

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

Green Car Congress

We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices. The EIA noted that concerns about decreased demand because of increasing COVID-19 cases have recently driven crude oil prices down, offsetting some initial price increases due to larger inventory draws.

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