From Bloomberg:
Texas Is About to Create OPEC's Worst Nightmare
The map lays out OPEC’s nightmare in graphic form.
An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel.
OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day.
“The Permian will continue to grow and OPEC needs to learn to live with it,’’ said Mike Loya, the top executive in the Americas for Vitol Group, the world’s largest independent oil-trading house.
There is more at the site - the two maps show four pipelines opening in 2019 with an estimated delivery from 2,085,000 to 2,670,000 barrels/day with three more pipelines coming online in 2020 with an estimated delivery of more than 2,000,000.
This chart is very telling - plus, it makes me smile. The more energy independent we are, the better for our Nation.
Some of those pipeline are OURS! My employer's.
Business is GOOD!