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Arthur Berman

Art Berman

Contributor since: 12 Jan 2015

Arthur Berman

Biography

Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and is currently consulting for several E&P companies and capital groups in the energy sector. During the past year, he made more than 25 keynote addresses for energy conferences, boards of directors and professional societies. Berman has published more than 100 articles on oil and gas plays and trends. He has been interviewed about oil and gas topics on CBS, CNBC, CNN, CBC, Platt’s Energy Week, BNN, Bloomberg, Platt’s, The Financial Times, The Wall Street Journal, Rolling Stone and The New York Times. Berman is an associate editor of the American Association of Petroleum Geologists Bulletin, and was a managing editor and frequent contributor to theoildrum.com. He is a Director of the Association for the Study of Peak Oil, and has served on the boards of directors of The Houston Geological Society and The Society of Independent Professional Earth Scientists. He worked 20 years for Amoco (now BP) and 16 years as consulting geologist. He has an M.S. (Geology) from the Colorado School of Mines and a B.A. (History) from Amherst College.

Latest articles from Arthur

  • Permian Oil Reserves Are Grossly Exaggerated

    Published 19 July 2017 | viewed 24,222 times

    We are entering a new age of American energy dominance according to Energy Secretary Rick Perry. President Trump reflected that view in comments he made last week that…

  • The Shale Gas Revolution Is A Media Myth

    Published 05 July 2017 | viewed 28,673 times

    Shale gas is not a revolution. It’s just another play with a somewhat higher cost structure but larger resource base than conventional gas. The marginal…

  • What’s Wrong With The U.S. Oil Export Boom

    Published 19 June 2017 | viewed 20,806 times

    The lead editorial in Friday’s Wall Street Journal was pure energy nonsense.’ “Lessons of the Energy Export Boom” proclaimed that the United States is becoming…

  • Are Oil Prices $7 Too High?

    Published 29 May 2017 | viewed 15,055 times

    OPEC extended oil production cuts last week and oil prices plunged. OPEC’s goal was to keep a floor under current prices but the market expected…

  • Tight Supply Boosts Natural Gas Prices In 2017

    Published 16 May 2017 | viewed 18,260 times

    A year ago, most analysts were bearish about natural gas prices. I wrote that natural gas prices might double and they did. Today, most analysts…

  • Oil Prices Are Where They Should Be

    Published 07 May 2017 | viewed 20,861 times

    WTI oil prices plunged to almost $45 per barrel yesterday (Figure 1). That was a downward adjustment to where prices should be based on supply,…

  • Don't Believe The Hype: Oil Markets Far From Recovery

    Published 19 April 2017 | viewed 28,233 times

    Global oil inventories are falling because of OPEC and non-OPEC production cuts, but the road to market balance will be long. Production cuts have removed…

  • Why Breakeven Prices Are Plunging Across The Oil Industry

    Published 10 April 2017 | viewed 46,041 times

    Shale companies have pushed breakeven oil prices below $40 per barrel—but so have major oil companies. Analysts commonly portray cost reduction as something unique to…

  • Tech Miracle In U.S. Shale Is A Media Myth

    Published 22 March 2017 | viewed 52,958 times

    I am tired of hearing about the unbelievable impact of technology on collapsing U.S. shale production costs. The truth is that these claims are unbelievable.…

  • Is The Oil Price Plunge A Turning Point? 

    Published 09 March 2017 | viewed 51,373 times

    WTI futures fell $2.86 from $53.14 to $50.28 per barrel, and Brent futures dropped $3.81 from $55.92 to $52.11 per barrel. WTI is trading below…

  • Why Investors Should Beware Of The Bakken

    Published 01 March 2017 | viewed 30,780 times

    It’s the beginning of the end for the Bakken Shale play. The decline in Bakken oil production that started in January 2015 is probably not…

  • Why Sub $50 Oil Is More Likely Than $70 Oil

    Published 14 February 2017 | viewed 27,556 times

    It is more likely that oil prices will fall below $50 per barrel than that they will continue to rise toward $70. Prices have increased…

  • Keystone XL Needs Much Higher Oil Prices To Be Viable

    Published 05 February 2017 | viewed 16,668 times

    The Keystone XL Pipeline (KXL) is a bet on much higher oil prices several years from now. It will take at least $85 oil prices…

  • Why Cheap Natural Gas Is History

    Published 23 January 2017 | viewed 32,640 times

    Natural gas prices averaged a little more than $2.50 per mmBtu (million British Thermal Units) in 2016. Those days are over. Prices will average at…

  • Low Oil Prices Could Last As OPEC Cuts Won’t Suffice

    Published 10 January 2017 | viewed 26,894 times

    An OPEC production cut offers oil producers hope for higher prices in 2017. But there is a dark cloud hanging over that expectation. Global storage…

  • The Billion Barrel Oil Swindle: 80% Of U.S. Oil Reserves Are Unaccounted-For

    Published 09 October 2016 | viewed 83,656 times

    U.S. crude oil storage is filling up with unaccounted-for oil. There is a lot more oil in storage than the amount that can be accounted…

  • Only Higher Prices Can Prevent The Imminent Natural Gas Bust

    Published 08 September 2016 | viewed 24,796 times

    One hundred years of natural gas? Not at these prices. U.S. gas production is declining and shale gas output is down almost 2.5 Bcf per…

  • The Permian Pitfall: A Race To The Bottom For Tight Oil

    Published 22 August 2016 | viewed 16,443 times

    Remember the shale gale and Saudi America? The scale of those outlandish delusions has now dwindled to plays in a few counties in West Texas…

  • Pioneer’s $2 Operating Costs: Fact Or Fiction?

    Published 01 August 2016 | viewed 17,858 times

    Image from ShortList.com Pioneer CEO Scott Sheffield made headlines last week when he claimed that his company’s Permian production costs “…can compete with anything that…

  • Oil Industry About To Be Burned Again By Fall In Oil Prices

    Published 27 July 2016 | viewed 51,599 times

    The current oil-price rally is over. U.S. rig counts have surged as oil prices sink. Capital is driving the oil markets and it enables bad…

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