U.S. Department of Energy forecasts declining production for both crude oil and natural gas in each of the seven major regions in May as supply continues to outpace demand and storage capacity amid the global coronavirus pandemic. Oil production is expected to decline by 183,000 barrels per day in May compared to April to 8.526 million b/d. And natural gas production is expected to fall by 869 million cubic feet per day in May compared to April to 83.158 billion cubic feet per day.
The drilling productivity report for April 13 says crude production in Permian Basin is expected to fall to 4.506 million b/d in May from 4.582 million b/d in April, and natural gas production is expected to decline to 17.049 billion cubic feet per day in May from 17.081 billion cubic feet per day in April. Appalachia remains the natural gas production leader among the seven regions with 31.889 billion cubic feet per day – down from 32.215 billion in April.
Permian (8) and Bakken (12) are the only regions that added drilled but uncompleted wells in March. Permian is the leader with 3,441 of the nation’s 7,576 DUC wells in March.
The USA needs to have a crash construction program to build many more natural gas fired turbine
electrical generation facilities across the USA….and make them EMP proof.
Likewise we need to outlaw electric cars and trucks, and go to diesel mechanically injected cars and
trucks that are EMP proof so the transportation system of the USA cannot be shut down by an EMP
attack.
In west Texas and New Mexico many more salt dome formations need to be developed as repositories for
Natural Gas Liquids. We need a crash program to build many more 100,000 barrel storage tanks for
refined diesel fuel.
Spruce up existing NGL export facilities and build many more. Then we can sell LNG by the tanker loads
to other countries that use it for producing electricity, for cooking, and heating cheaper and more abundantly than can Russia, Saudi Arabia, OPEC, and the like.
Then cause our government to earmark all oil and gas tax revenue to pay the National Debt and rebuild, maintain our infrastructure.
In the simplest terms……Americans TAKE CARE OF AMERICANS FIRST!!