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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: Are US Drillers Actually Making A Comeback?

Green Car Congress

Oil prices have rebounded strongly since March. The benchmark WTI prices soared by more than 36 percent in two months, and Brent has jumped by more than 25 percent. But that cut in production has itself contributed to the rise in prices. million barrels per day, that would merely bring about another decline in oil prices.

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Record $86B in 2011 US oil and gas upstream deals, led by unconventional sector with $62B

Green Car Congress

Industry appetite for oil-rich resource plays, particularly the North Dakota Bakken shale, Texas Eagle Ford shale and Ohio Utica shale, drove deal activity in the unconventional sector to a record $62 billion. We expect continued strong activity in oil and liquids-rich resource plays in 2012.

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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. That license was estimated to have 625 million barrels of oil in place. “We

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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.

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