• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 12 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 1 day "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 3 days ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 1 day Wind droughts
  • 9 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 4 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 18 hours Australian power prices go insane
  • 4 days Xi Is Set To Be Re-Elected As China’s Leader
  • 1 day Europeans and Americans are beginning to see the results of depending on renewables.
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 12 days Oil Prices Fall After Fed Raises Rates
  • 6 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

U.S. Shale’s Breakeven Myth

Most oil analysts have one goal in mind, and it’s not to be right about predicting the future prices of oil. It’s about trying especially hard not to be wrong.

The difference is important. Most analysts, including the IEA and EIA, cannot make any forecast that can be recalled months later to make them look foolish. The safest prediction you can make is always to see not much change at all, whether you see oil at $25 a barrel or $125 a barrel.

If something dramatic changes, the worst you can be accused of is not seeing what virtually everyone else has missed too – and you keep your reputation and your job.

I don’t have those restrictions, which is why you’ll get what seems like wilder predictions from me, including my continued outlook for $100 a barrel oil in 2018.

This week, we have another indication that the ‘common wisdom’ in oil is not holding up and something entirely different from what the majority of analysts are predicting is going to happen.

This interesting piece in the Wall Street Journal outlines how most of the supermajors – Exxon, Shell, Chevron and BP – have been struggling to break even in a $50 oil environment and have been pulling free cash in order to continue to pay dividends.

This runs entirely counter to the ‘common wisdom’ on the street – that the ‘new normal’ of efficiencies and cost slashing in US E+P’s has made oil profitable…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News