Comments by "D W" (@DW-op7ly) on "Petrodollar Ending: As Yellen Issues Ultimatum To Global Banks, Oil Will Be Priced In China’s RMB" video.

@dr-rexmangrca113 the USA had 500 trillion in “internal” debt (if you include the 200 trillion “notational” value of the derivatives bets by the too big to fail banks) Now normally I would argue internal debt is different from “external” Sovereign debt But the USA has had no problems with converting internal debt into sovereign external debt And western economist love to include Chinese internal debt along with its external Sovereign debt
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@charleshinton8565 US Shale oil is borrow to explore and drill Then explore and drill some more to keep up production numbers With high oil prices they are managing to break even but looking to transition to natural gas 👇 Shale Wells Producing More Early On, Then Declining Faster Than Ever The challenge of sustaining shale production is growing larger. August 16, 2023 Production from the average US shale oil well is declining more rapidly every year, with the biggest losses by far in the Delaware Basin, according to a report from Enverus. Increasing rapid declines by many thousands of older wells are obscured by the rise in total production from new wells as the industry engineers completions to maximize early production. JPT 👇 DECLINE RATES IN THE BAKKEN SHALE For decades the oil industry has applied a simple rule estimating a constant “decline” rate in conventional oil wells. Typically production in an oil field declines at an annual rate of around 8% to 10%, absent further investment. This allows field production to be counted on for two decades or more. Shale oil development, however, has turned the rule of thumb on its head, with decline rates as much as 50% in the first year. In order to maintain oil shale production the industry must constantly drill new wells. IAEE
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