The United States has four percent (4%) of the worlds total proven reserves. It is the 2nd largest oil consuming nation in the world, second only behind China.
Roughly 60% of total US oil and condensate production comes from HZ, tight oil wells that decline 85% the first 32 months of production life.
57% of all HZ, tight oil production in the United States comes from the
84% of that HZ, tight oil production from the Permian Basin is being EXPORTED to foreign countries.
Does that make sense to you?!!
Not to us it doesn't. At OSB we think it is absolute insanity.
There is NOBODY in America anymore in charge of our nations hydrocarbon future.
Pretty Much ALL Of the Green Stuff In This Chart From the Permian, Is Exported________________________