Data Is Now Real Oil ?!!


EIA & HFI Research

Blue is EIA Estimates From 914 Surveys

Green is Drillinginfo Estimates

Red is Actual Data From Texas Railroad Commission

August EIA to TRC: +698,000

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Nah!

Chart is courtesy of Art Berman, Labyrnith Consulting Service, Inc., with Art's choice Of applicable quotes:

"It was as useless to fight against the interpretations of ignorance as to whip the fog."

George Eliot, Middlemarch

This large discrepancy in estimated data and real data allows Oilystuffblog.com the opportunity to re-introduce, from a previous post, the Directors of the EIA and the IEA, whose respective organizations are all over the map with production estimates, wild-ass guesses about oil prices and predictions about the future of LTO production in America: