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 An observation worth noting … and pondering, from Collin Eaton:

U.S. daily crude production will slow next year for the first time since the nation’s shale oil boom began three years ago, according to a new federal estimate.
In its first forecast of the nation’s energy position in 2015, the U.S. Energy Information Administration projected Tuesday that oil producers will increase production by about 750,000 barrels of oil per day in 2015. That’s a drop from an expected daily increase of 1.03 million barrels in 2014 and the growth of the past two years.
Falling oil prices could dampen the incentive for energy companies to produce as much crude in 2015, a symptom of shrinking demand for motor fuels as automakers sell more efficient cars, said John Staub, head of the EIA’s exploration and production team.

So much for all the talk about energy independence….Facts continue to screw up the happiest of the Happy Talk stories brought to you by the fossil fuel industry’s cheerleading squad.

Admittedly their story of energy abundance and no-energy-worries-for-you is a more pleasing one to just about all of us, but reality is rarely if ever concerned about feel-good. Reality deals with reality. Good or bad, and anything in between, does not change geology or physics.

And also worth noting that the International Energy Agency has now revised its demand/consumption forecast for 2014, and that’s going to be higher than initial projections. It’s a nice sign about growth on the mend, but….

We have increasing demand, decreasing production, falling prices which will restrict the industry from investing as much as is needed to satisfy demand. By golly, that math isn’t adding up to much vast awash abundance!

I sure hope the fossil fuel industry’s scriptwriters are working feverishly to crank out a new draft of the Happy Talk talking points. If they aren’t, then we might have to start considering a plan or two to start us on the road for non-awash, not-so-vast and not-so-much abundance. Talk about messing up a nice story….

~ My Photo: Good Harbor Beach, MA – 09.01.10

I invite you to read my other blogs at richardturcotte.com

New features will debut soon at that website:

            * THE MIDDLE AGE FOLLIES

This new column begins on February 3, 2014. It’s a slightly skewed look at life for those of us on the north side of 50.

            * THE TRETIAK AGENDA

A political thriller filled with unexpected plot twists and drawn from real world historical events, this eBook is scheduled for Publication on January 28, 2014.

Excerpts are being posted posted as of January 6th. Look for a few teasers already posted, as well.

            * LIFE WILL ANSWER

(The inspiration for the second blog at that website). This eBook is scheduled for Publication on February 12, 2014

Excerpts are being posted as of January 15th. Look for a few teasers already posted, as well.

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