The Easy Way to Increase Oil Production

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From: Energy and Capital <eac-eletter@angelnexus.com>
Date: Sun, Sep 2, 2012 at 10:06 PM
Subject: The Easy Way to Increase Oil Production

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The Easy Way to Increase Oil Production By Brianna Panzica | Sunday, September 2nd, 2012 It's time to increase oil production. That's what G-7 finance ministers — representatives from the United States, Canada, Japan, the UK, Germany, France, and Italy — told oil-producing nations this week. The price of oil has been rising: Crude oil on the New York Mercantile Exchange (NYMEX) has been hovering around $96 a barrel for the past two weeks. Brent crude has been over $100 for the last seven weeks. It's been over $110 for the last four. Of course, oil consumers are eager to reverse the upward trend. A recent statement released by the G-7 said: The current rise in oil prices reflects geopolitical concerns and certain supply disruptions. We encourage oil-producing countries to increase their output to meet demand. Ah, if only it were that simple... Advertisement Growing Body Parts Call it what you want: biotechnology, tissue engineering, cell therapy, regenerative medicine. We have a breaking report on one company about to make multiple medical problems disappear forever. Lucky for you, it's a $2.00 company that will bring these solutions to market — making shareholders rich in the process. Check out this clip to learn the company's name.  The United States did slow production this week, taking 95% of Gulf oil production offline. But this was just a temporary halt due to Hurricane Isaac. Meanwhile, crude oil stockpiles unexpectedly increased by 3.78 million barrels, bringing the total to 364.5 million. U.S. imports also increased last week — by 1.29 million barrels per day. We now import 9.5 million barrels daily. It's speculated that this could have been in anticipation of this week's storm. But that's not necessarily fact... Either way, it's the most the U.S. has increased crude imports since December. And even if the nation does increase production, it won't offset those imports. Last year U.S. crude production was at almost 5.7 million barrels per day. That was a rise of 300,000 barrels per day from the year before (and merely a percentage of the imports added last week). This situation is not unique to the United States. Other oil-producing nations can't compensate for the global slump, either. Take a look at this chart of OPEC crude oil production: click to enlarge Algeria's production has decreased by nearly 200,000 barrels since 2007. In 2011, production in Angola, Ecuador, Libya, and Venezuela (not visible) was down from four years before. Sure, global production was up a little over 100,000 barrels per day... but not before falling almost 1 million barrels per day between 2008 and 2009. Advertisement Gold Price Plummets by 75%? A clever Texas man discovered a little known "Jeweler's Loophole" that allows him to buy pure gold for up to 75% off spot price. He's been getting gold for as low as $421 an ounce... allowing him to double and even quadruple his money like clockwork. This free video presentation reveals exactly how you can, too!  Oil is getting harder to reach. Nations are drilling for "oil equivalent" instead of actual crude. And the G-7 is calling for more production because there just isn't enough. Leaders of the G-7 have also requested that the International Energy Agency release oil from its strategic reserves. And the Obama administration indicated it was ready to tap the U.S. Strategic Petroleum Reserves if necessary. Yes, Hurricane Isaac shut down Gulf production — but only temporarily. That's not enough to call on the IEA's strategic reserves. So, what's really going on with oil? It would appear, dear readers, that there isn't enough to go around. Crude is past its peak. But the leaders of the oil-producing nations and the G-7 aren't going to tell you that. They'll tell you their "oil equivalent" is basically the same thing. They'll tell you we need the strategic reserves... but only for now. And they'll tell you politics is the only reason prices are up. And while some of these reasons are legitimate, they're not the main culprit. The United States must find a way decrease its foreign dependence. Let's be honest; we're not really on great terms with OPEC nations. And the more we align ourselves with them in the name of our own energy security, the worse off we'll be. We have to develop what we can here at home. The truth is the U.S. does have its own crude. At the bottom of old oil wells, there's still plenty of oil waiting to be produced... The technology to recover these resources just hasn't caught on. But this enhanced oil recovery technique will. It's just a matter of time, once the politicians touting the importance of U.S. energy independence actually realize how important it is. Energy investors will want to get in now — while everyone still insists the world has enough oil. Good investing, Brianna Panzica @brianna_panzica on Twitter Energy & Capital's modern energy guru, Brianna digs deep into the industry with accurate and insightful updates into the biggest energy companies and events. She stays up to date with the latest market moves and industry finds, bringing readers a unique view of current energy trends. For more on Brianna, see her editor's page. Forget Paper, Print This: A New Wave of DIY Need a new phone case? A rare car part? Just print it... Arctic Oil Investment Opportunities: Peak Oil Puts Russia on High Alert I'm not sure what's crazier — a handful of activists taking on a rig full of pissed-off Russians... or the fact that the world's oil addiction is so strong, we're willing to spend hundreds of billions of dollars to get at roughly 360 billion barrels of oil equivalent. Avoiding the Welfare Trap: Being Successful with the Conditions You're Given Save as much money as possible. Invest it wisely on your own. Diversify. Buy cheap real estate. Buy precious metals. Be as self-reliant as possible. Ten Times the Dow - It Will Happen: Dow 131,310 Judging by the daily financial news, we are all "headed to hell in a handbasket" as my dear, sweet mother is want to say. Peak Oil Isn't Real: Pay No Attention to the Reality Behind the Curtain Editor Nick Hodge takes a tongue-in-cheek approach to clarifying some common sense Peak Oil missteps. 3 Stocks for the Shale Boom: How to Play the Bakken Warren Buffett wants to profit off of North Dakota shale...do you? They Laughed When I Said Buy Platinum...: It Jumped 83% in a Day Gold up, silver up, platinum up... Independence Day 2020?: The Long Road to Energy Independence Editor Keith Kohl takes a look at Mitt Romney's new energy plan and questions whether it's possible to achieve energy independence by 2020. Precious Metals Signal a Major Move is Coming: Silver Headed WAY Above $50 an Ounce It's not too late to buy silver... but this train is leaving the station. So you better get moving very soon if you want a piece of the coming surge. Drilling the Bakken Formation: Not a Dry Hole in Sight Drilling the Bakken Formation comes with a very profitable advantage... Keith Kohl explains. Ethanol Industry Scam: The EPA is Screwing You The ethanol industry is pilfering your paycheck. I liked this article | I did not like this article Follow Energy and Capital on The Bottom Line Related Articles Who's Afraid of Peak Oil? The Life of an Oil Well Misconceptions Surrounding Peak Oil Recently... Peak Oil Puts Russia on High Alert Pay No Attention to the Reality Behind the Curtain The Long Road to Energy Independence The EPA is Screwing You Energy and Capital's Weekend Edition

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