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energy and fields

Whither US Oil Production?

by. P. Homewood, Mar 13, 2022 in NotaLotofPeopleKnowThat

This single chart from the US EIA explains just why oil prices are shooting up there:

https://www.eia.gov/petroleum/production/

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The oil boom initiated by Trump saw crude oil output increase by a half between 2016 and 2019.

Output naturally collapsed in early 2020 as a result of the pandemic, which affected both supply and demand. But since then output has only slowly recovered, and is still 9% below 2019 levels.

It is worth pointing out that demand in 2021 was still not back to 2019 levels. Assuming it recovers this year, it is likely to put further upward pressure on prices, unless production increases as well.

To put the numbers into perspective, the US produces a sixth of the world’s crude oil. The increase US output between 2016 and 2019 was 205 million tonnes, and represents 5% of global output.

Small changes in supply have a disproportionate effect on international oil prices, because demand is so inelastic. An extra 5% on world production would have a significant impact on prices.

 

 

better to know...?

Warming Could Lead To Fewer Tornadoes… Trend Has Been Downward 70 Years, Less Damage

by P. Gosselin, Mar 13, 2022 in NoTricksZone

A rational look at the data and physics tell us there are no real signs that tornadoes are going to get more frequent and worse.

German Die kalte Sonne’s 2nd part of its most recent video looks at tornadoes, a ferocious and extremely destructive meteorological phenomenon that global warming alarmists claim will only get worse and worse. They want6 you to panic over it.

But Die kalte Sonne’s video report notes that a number of sources say that trend has yet to materialize. Many statistics in fact have shown the opposite is happening:

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Ideal conditions for tornado formation could weaken

The ideal conditions that lead to the formation of tornadoes are lower warm moist air clashing with cold dry air moving above. The conditions are common in the springtime, when warm, humid air from southern USA clashes with a cold air mass blasting in from the north. Yet, should the these cold masses of air warm up, then this would lead to a smaller temperature gradient and thus be less favorable for tornadoes to form.