$CHK U.S. shale oil production has been a major driver in the growth of world oil supplies. Last year the United States accounted for 98 percent of global growth in oil production. Since 2008 the number is 73 percent. It’s not hard to imagine that a slowdown in U.S. oil production growth or worse yet a decline in overall U.S. production would mean trouble for the entire world. With 81 percent of global oil production now in decline, even a plateau in U.S. production would likely result in a worldwide decline. The world is simply not prepared for such an event—in part, because agencies such as the EIA are either unable or unwilling to grasp the plain facts and present them to policymakers and the public. When the real trouble arrives in the oil markets, the EIA and other forecasters will likely just shift their analysis and cite some “impossible to predict” factors resilience.org/stories/2020...
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