- Why America Will NOT Soon Become A Net Exporter Of Oil
- The Gross Global Mis-Pricing Of Risk
- The New Fed Looks Even Worse Than The Old
- What You Should Do To Prepare
The "America Will Soon Be A Net Exporter Of Oil" Big Fat Lie
This brings us to the part where the oil myth has gone entirely off the rails. Using the fraudulent oil recovery (EUR) estimates in play, the International Energy Agency (IEA) has built that into an outlook that might not only be wrong, but decisively and destructively wrong.
The IEA came out with a bombshell report recently that dramatically claims the US will not only become a net oil exporter in 2025 and remain as such for decades afterward, but that it will be able to increase its production by another incremental 8 million barrels per day above current levels:
US will become a net oil exporter within 10 years, says IEA
Nov 13, 2017
The shale revolution in north America means the US is destined to become a net oil exporter within 10 years, for the first time since the 1950s.
The International Energy Agency said it expected that American oil production between 2010 and 2025 would grow at a rate unparalleled by any country in history, with far-reaching consequences for the US and the world.
The last time the US exported more oil than it imported was 1953, and a ban on oil exports was lifted only in 2015.
Technological developments in drilling and fracking since the turn of this century have unlocked huge reserves of gas and oil trapped in shale rock, and redrawn the energy landscape.
Well, I can assure you that if the IEA is using EUR’s that are off by 100%, then its projections are not only laughably wrong, but extremely dangerous.
Based on this sort of deeply-flawed analysis, anybody making plans off of this, which might include politicians, regulators, companies, or individuals deciding on whether or not to buy that F350 truck with a 15+ year lifespan, is relying on some very bad information.
And more than that, it's critical for us to understand how oil is about to violently…