ShinerBock wrote:
FishOnOne wrote:
With the oil production output in West Texas projected to hit pipeline capacity, and some other very large recently discovered oil fields that will be coming on line, "sweet crude" supply will not be the issue.
In the oil/gas industry (which I'm very involved in) speculators (like your article) always drive prices up for the most part until the facts usually prove them wrong and prices settle.
I work very closely with the oil and gas industry was well, and I don't think west Texas can pump enough sweet crude for the added 3 million barrels per day that these ships use. I guess I will just have to link this thread into my Outlook to remind me to bring this thread back to life on 1/1/20 to see where the prices are at.
I didn't say West Texas will provide all the additional oil, but there are several large fields already identified that have the potential to produce way more than West Texas could ever produce. For now West Texas production output will soon be limited by pipeline capacity.
I'm very involved with the oil/gas industry. I design and manufacture both Hydrophones and Geophones and work extensively with the geophysicist of Exxon Mobil, Shell, Chevron and BP when it comes to seismic sensors so I have a good pulse on what's coming down the pipe... literally. These hydrophones are used in streamers that's used for offshore exploration that have been key to locating ~90% of the offshore gas and oil around the world for the last 14 years.
