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Overcapacity and the price of oil
Dr. Daniel Fine, New Mexico Center for Energy Policy
USA TODAY, Daily Times senior energy columnist
The full article is here-> "With the Saudi Arabian-American strategy of removing ISIS and terror roots in Middle East societies and governments, the global oil and gas service companies have new projects to expand oil capacity of Saudi Arabia. This moves Saudi Aramco into overcapacity production range and a Second Downturn in early 2019 as forecast in this column six months ago.

Saudi oil production capacity should increase to 13 million barrels per day with Haliburton and others working on projects to increase reserves. This is prepared to flow into export markets to deprive Occidental of its short- term export of domestic oil which the production cut-back under the 1,800,000 barrels per day OPEC and Russian “deal” provided as a temporary marketing opportunity. The price of de-terrorism in the Middle East is more Saudi Arabian oil and lower world prices. Saudi Arabian demand forecasts are no more than 1 percent per annum growth: its new capacity addition could reach 4 percent per annum in the next five years following the service company projects signed weeks ago.

OPEC production and imports to the U.S are up as this column is prepared for publication. The Commodity Market, which determines the price of world oil, would have a trading range breakout if Iranian gunboats break the isolation of Qatar and engage the U.S. Persian Gulf naval capability. However, such incidents would move traders for hours only.

Natural gas prices should continue to move upward as risk hedging begins to focus on buying gas and selling crude. This is a contract which oil price risk is hedged
A laying of the risk of crude oil price declines with a simultaneous buying of natural gas."

"You've just entered an area between rock-n-roll and madness; an area known as 'The Twilight Zone'"

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400,000 oil jobs already lost and counting! Google Panhandle Import Reduction Initiative! Vote Trump!

Unprecedented interference in #American #election? How does #Obama-#Hillary collusion threaten sovereign #Ecuador on #Wikileaks when HRC is losing!

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AUGUST 31, 2016
Contact: Dr. Daniel Fine, Tom Cambridge
The Panhandle Import Reduction Initiative (PIRI)
Dr. Daniel Fine @ 505-771-1865, Tom Cambridge @ 806-358-7744

Southwest Oil Independents warning to Saudi Arabia

Carlsbad, New Mexico - Texas and New Mexico oil companies and communities will warn Saudi Arabia and OPEC to stop overproduction of oil and lower prices as a strategy to slow or shut them down or face import quotas.
This is the challenge of independents at the Panhandle
Initiative to Reduce Imports (PIRI) at an industry and
public rally in Carlsbad on September 27th. It will go
from 11:30 A.M. to 2:00 P.M. and will be held with a
free lunch and admission at the Pecos River Village Convention Center, 711 MUSCATEL AVE, CARLSBAD, NM 88220

Southwest and Rocky Mountain oil producers are under OPECand Saudi Arabian attack . By 2019 they will capture the recovery of the demand for oil . OPEC is planning to
force American consumers back to the 1990's of dependence of imports of foreign oil.

The American oil industry, which has in the last 10 years
created the technology of oil self-sufficiency, will survive
without the smaller independent company pioneers in
shale and their future risk-taking in finding oil. Integrated companies (with production and refining combined) will survive and dominate in a second downturn with a smaller market share in America alongside potential 60% oil imports from foreign producers outside North America.

This summer’s crude oil price price recovery is unsustainableas Saudi Arabia expands capacity to supply most of the of the 2019 demand upturn worldwide. Price volatility should occur around geopolitical events such as military collision in the South China Sea.

The PIRI will present Dr. Daniel Fine and our strategic “White Paper” as the keynote along with oil and gas operators from the Delaware Basin (New Mexico Permian) and the San Juan Basin.

The oil and gas industry “bust” will be presented by
Tom Taylor, Economic Development, Four Corners and Tom Dugan of Dugan Productions. Tom Cambridge will speak on the Panhandle of West Texas and John Yates, Jr., Yates Petroleum, on the Permian/Delaware.


More information about the Panhandle Import Reduction Initiative (PIRI) can be found at the PIRI website or by calling Dr. Daniel Fine at 505-771-1865 and Tom Cambridge at 806-358-7744

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Join us, read our work, sign up, or donate to the THE PANHANDLE IMPORT REDUCTION INITIATIVE NOW!
The Panhandle Import Reduction Initiative was established to educate political leaders and law makers on the importance of reducing imported oil supplies to bolster the US economy and national security. It proposes a grass roots, updated version of President Dwight D. Eisenhower's 1959 US Quota on Petroleum Imports that set out to:

Insure a stable, healthy industry in the United States capable of exploring for and developing new hemisphere reserves which meet requirements for our national security . . . to preserve to the greatest extent possible a vigorous, healthy petroleum industry in the US.
Keep oil imports at roughly 10 - 12% of US consumption
Favor "hemisphere" imports / development as opposed to oil brought across oceans (ie. overseas imports) ttps://
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