@NurderK@HubertAiwanger Hubert Aiwanger wird oft durch den Kakao gezogen aber am Ende ist er derjenige der Probleme pragmatisch mit gesundem Menschenverstand angehen will. Daher bin ich gerne Team FW 🧡
VENEZUELA, TRUMP AND OIL: A thread 🧵
With Venezuelan oil production languishing near a 100-year low (despite its huge reserves), American saber-rattling against Nicolas Maduro isn’t having much impact on oil prices.
FREE-TO-READ (next 7 days): bloomberg.com/opinion/articl…
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Difference between conventional and shale oil
- Conventional wells tap into big underground reservoirs.
- Once drilled oil flows naturally for decades.
- Peaks after 5-17 years
- Declines ~5% per year
They ramp up slowly, decline gradually
Shale oil doubled global decline rates.
Every year the world now loses the equivalent of Iraq’s entire oil output, the 4th largest producer, just to stay flat.
This treadmill can’t run forever.
(Thread)