OIL WARS: Shale Output Hasn’t Grown This Fast Since Oil Was at $100.
The situation is “reminiscent of the first wave of U.S. shale growth,” when a flood of American oil built up a global glut that sent prices crashing over four years ago, said the Paris-based IEA, which advises governments and corporations on energy trends.
Oil prices fell after the report’s release in Europe before recovering somewhat. Brent, the international benchmark was down 0.06% at $62.55 while U.S. prices were down 0.27% at $59.13.
Shale producers “cut costs dramatically” during the nearly three-year-long oil industry downturn, the IEA said. They then took advantage of the Organization of the Petroleum Exporting Countries cartel’s decision to cut its own output, which helped prices rise from the low $40s to over $70 a barrel as recently as late last month.
“All the indicators that suggest continued fast growth in the U.S. are in perfect alignment,” the IEA said.
OPEC had a choice between price and market share, and they sacrificed market share to prop up prices. Now they’ll get neither.
THESE ARE THE CRAZY YEARS! DEMS AND CELEBRITIES (BIRM) MOST AFFECTED: Pearl Jam Briefly Relevant Again with Concert Poster Depicting T
VERY FEW PEOPLE WANT TO SELF-IDENTIFY AS MENTALLY ILL: Poll: Majority of Millennial Women Do Not Identify as Feminist.
IS THAT BRENNAN HAD HIS SENSE OF HUMOR ABLATED AT BIRTH AND IS WILLING TO TEAR THE REPUBLIC APART OVER A JOKE? MR. BRENNAN, YOUR CLAIM
AND THEN THERE’S THIS: Wow: Pentagon Analyst Stripped of His Security Clearances After Questioning Exorbitant Contracts for Trump-Camp
AND THIS, THOUGH AS A RESIDENT OF ONE OF NM’S NEIGHBOR STATES I MUST POINT OUT THEIR POLICE FORCE HAS ALWAYS BEEN ERRATIC. OTOH THE FB
YEAH HIS FREEDOM OF SPEECH BEING CURTAILED BY TAKING HIS CLEARANCE AWAY MAKES ABOUT AS MUCH SENSE AS THE LONG LSD TRIP THE LEFT HAS FAL
ROGER KIMBALL: We knew Peter Strzok was gutless. His begging reveals that he’s shameless, too: The disgraced former FBI agent is the
THE COMPETITION SHOULD NEVER HAVE MESSED WITH COCAINE MITCH: Coast Guard Cutter Unloaded More Than 12,500 Pounds of Cocaine This Month.
ON ELVIS PRESLEY’S DEATHDAY, here’s something I wrote in 2002.
WEIRD, WHO WAS IN CHARGE THEN? Botched CIA Communications System Helped Blow Cover of Chinese Agents.
How were the Chinese able to rol
ANDREW SULLIVAN: Jeremy Corbyn, 1970s Revanchist, Is Suddenly the Face of the New New Left. IngSoc for everyone!
DO TELL: “Mr. Brennan was director of the Central Intelligence Agency from 2013 to 2017… Coincidentally, immediately after his boss, M
OPEN THREAD: Excelsior!
FASTER, PLEASE: Could SpaceX and Boeing Spaceships Open a New Era for Space Tourism?
YOUR DAILY TREACHER: Pearl Jam Briefly Relevant Again with Concert Poster Depicting Trump’s Dead Body.
“Now, I’m a free speech kinda gu
AT AMAZON, save on Small Appliances.
Plus, end of summer deals in Sports and Outdoors.
PLUS, THE BETTER YOU LOOK, THE HAPPIER YOU MAKE THE PEOPLE YOU ENCOUNTER: Cosmetic procedures boost well-being, poll shows. I keep wa
CIVIL RIGHTS UPDATE: Justice Dept. Says State AGs Misunderstand Cody Wilson Settlement. “The Department of Justice announced on Thurs
DON SURBER: In case you missed it, Trump has China reeling. “This happens when your intelligence consists of spying on Dianne Feinste
WHY THE INTELLECTUAL DARK WEB SHOULD STICK WITH CULTURE AND NOT SHIFT TO POLITICS:
But as [Caitlin] Flanagan of the Atlantic suggests,
THE STORY BEHIND “SWEET HOME ALABAMA.”
NEW MEXICO COMPOUND TERRORIST HERE DUE TO VISA PROBLEM U.S. HASN’T FIXED SINCE 9/11: LifeZette’s Brendan Kirby has the exclusive on why
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS: The Hill Interview: Twitter CEO Jack Dorsey explains what got Alex Jones suspended.
SCRAPPLEFACE: Trump Silences Ex-CIA Boss, Times Op-Ed Claims.
More than a dozen community groups have called on Rep. Bettie Cook Scott (D-Detroit) to apologize for a series of racial slurs sources say s
NEW YORK (AP) — A generation ago, the likes of Walter Cronkite, Peter Jennings and Diane Sawyer were the heroes of television
McConnell said the best way to evaluate Supreme Court nominee would not be through the documents sought by Dems but by rooting through his 3
In 2015 ISIS held a Ramadan Quran contest. The winners were awarded with their own Yazidi slave girls. ISIS gave away sex slaves in its Qura
Only a Democrat can get away with. Democrat Bettie Cook Scott stood outside the polling stations on Tuesday and urged voters not to cast a b
A military parade ordered by US President Donald Trump for later this year has been postponed until at least 2019, a defence official said o
Marlins manager Don Mattingly reacts to Jose Ureña’s ejection in the first inning after hitting Atlanta Braves left fielder Ronald Acuña Jr.
Miami Marlins pitcher Jose Ureña talks about getting ejected from Wednesday’s game after hitting Ronald Acuña, Jr. with the game’s first pit
This item from the UK is a shocking example of leftist identity politics in power:
Male, pale and stale university professors ar
For several months, an alliance has been forming between the neoconservative American Enterprise Institute (AEI) and the neoliberal Center
Dem Rep. Ted Lieu Says Trump Pardoning Manafort Would Be 'Grounds for Impeachment' - Lauretta Brown: Rep. Ted Lieu (D-CA) told CNN Thursday
The ex-girlfriend of Democratic National Committee Deputy Chairman Keith Ellison offered new details of abuse Thursday that she claimed to h
If ex-CIA Director John Brennan did to Andrew Jackson what he did to Donald Trump, he would have lost a lot more than his security clearance
In a scathing press statement released Thursday, the chairman of the Senate Select Committee on Intelligence, Senator Richard Burr (R-NC), e
A Swedish Muslim woman has been awarded compensation after claiming a job interview was ended abruptly when she declined to shake hands with
In one of their most Constitutionally-ignorant moments, Planned Parenthood took to Twitter and vehemently defended their progressive allies,
A 57-year-old employee was arrested after he carried a firearm onto the campus of Olsen Middle School.
More on this story.
California would be the first state to completely end money bail for defendants awaiting trial under a proposal unveiled Thursday that would
"Humanitarian Catastrophe" if Agency Stops UAC Migrants, says Official
A homeless shelter serving battered and sexually abused women in Anchorage, Alaska is being targeted by the state's equal rights commission
The Denver Broncos might consider bringing in a veteran backup quarterback at some point. If they do, it will not be Colin Kaepernick, gener
Prosecutions have reached an all-time low despite crime soaring to a new record high, official Government figures reveal.
In an interview with The Washington Post this week, Twitter head Jack Dorsey talked about the supposed issues facing Twitter
What will he do when that doesn’t work?
Via Daily Caller:
London Mayor Sadiq Khan responded to Wednesday’s reported terror