Welcome Nick. Glad to see your input.
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Originally Posted by Green Monkey
Mike is right on the money with emphasis on refining capacity in the medium to long term. Given the relatively wide geographical distribution and distribution of crude oil production in the US I think crude won't be as rare as the books make out.
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Given in 1997 there were 175,475 producing wells in Texas alone, I fully agree.
Quote:
Originally Posted by Green Monkey
Last point -shale is obviously a huge thing in the real world but probably would have been quite an experimental technology 20 years ago.
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The technology was there (fear of shale was a huge factor in opec ramping up production in 1986) but the infrastructure was not.