In a typical energy cycle, rising demand and higher prices eventually lead to increased production. That in turn means a volume boost for midstream and downstream systems, from gathering pipes and processing facilities near the wellhead to pipeline and storage systems that deliver crude oil to refineries, and from there to consumers and businesses. That hasn’t yet happened this time around. Exhibit A is our table “Major Oil Producing States,” which shows a US-wide increase in oil output of just 5.5 percent from Summer 2020’s pandemic/lockdown-depressed levels. Even more striking is the wide divergence between the major oil producing states. Mainly, this US Energy Information Administration data shows the entire nationwide output gain from August 2020 through August 2021 basically came from the state of New Mexico and the offshore Gulf of Mexico, with GOM later taking a big hit from the onset of hurricane season.
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In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.
Elliott and Roger on May. 25, 2022
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