3 ms·
This is exceedingly meaningless. Horizontal fracturing rigs can be reanimated relatively easily. And new wells are still being dug at a feverish pace -- they ju
by malchow 12y ago
This is exceedingly meaningless. Horizontal fracturing rigs can be reanimated relatively easily. And new wells are still being dug at a feverish pace -- they just are not being finished and activated. There really has been a sea change in the petroleum world; and the productive pace can now, with fracking, be feathered ever more delicately with respect to global market prices. It'll get even better if a GOP majority ends the ban on U.S. oil exports.
Here's a better article this weekend: http://www.wsj.com/articles/u-s-producers-ready-new-oil-wave-1426288890?mod=WSJ_hp_LEFTTopStories http://www.wsj.com/articles/u-s-producers-ready-new-oil-wave...
- kbutler 12y agoThe best line from the original article was "The fracklog has become America’s de facto backup storage." That's the key take-away: There's a huge inventory of readily available oil. Supply isn't coming down any time soon, which is great news for everyone who isn't in the oil industry.
- danieltillett 12y agoI don’t think it is good news for anyone. Burning all this oil is not going to do the environment much good.