“Oct 21 (Reuters) – U.S. shale oil executive Matt Gallagher this week took a poll on Twitter to gauge sentiment toward President Joe Biden’s offer to stock the U.S. emergency oil reserve at prices around $72 a barrel, to give producers an incentive to drill more.

The result: nearly 80% of respondents said they did not expect oil futures next year will fall to a level that would trigger any U.S. purchases – negating any boost from what analysts called the “U.S. put,” or using proposed Strategic Petroleum Reserve buys to set a minimum price for new oil production.”

“Trisha Curtis, president and CEO of PetroNerds, a Denver-based strategic advisory firm, told me, “The Biden administration’s response to OPEC’s decision to cut two million barrels a day is a sign of true desperation.

The SPR is already at levels not seen since 1984, putting the U.S. and the world on a path to higher oil prices in the future. The Administration has been unable to achieve a relief in sanctions on Iran and is now looking at Venezuela, again—even though Venezuelan production is heavily connected to both Russia and China.”

Ms. Curtis, a national expert in oil production, explained that the United States could begin producing another 2 million barrels per day by immediately re-approving expiring Federal permits. Reapprovals have virtually stopped under the Biden administration.

Additionally, the Administration could immediately accelerate lease sales and permit approvals on federal lands and end the moratorium on federal and offshore lease sales. Approving Keystone XL and accelerating the final development of the nearly finished pipeline would bring as much as 1 million barrels a day of Canadian crude to the Gulf Coast.”

Trisha Curtis, CEO of PetroNerds on the 2022 COGA TES.

Want to see PetroNerds in action? Actually giving a client presentation? Listeners of the PetroNerds podcast get to hear and see this fun fast paced 40 minute talk, soup to nuts, on the global economy and global oil market.  This was an actual recorded presentation given to a public E&P on May 12th, 2022.

Gather exclusive insights midway through the trading week to capture a deeper understanding of the structural dynamics affecting energy markets.

At the beginning of 2021, BRINK spoke to Trisha Curtis, the CEO of Petronerds, about what she thought the year would bring with a new U.S. administration for the oil and gas sector.

One year later, the sector is under continued pressure to cut carbon emissions, and yet the price of oil is still high, at around $70 a barrel.

Quoted in the article: “It’s really a unique recovery,” said Trisha Curtis, co-founder of PetroNerds said. “It says a lot about the unique trends in the U.S. with folks driving more with flexible work schedules, going back to work, and many still not yet working.”

Quoted in the article: “Demand is bucking with the price spikes and summer driving, but with high gas prices and inflation, the picture in September may look different,” said Trisha Curtis, co-founder of PetroNerds.

Quoted in the article: “Refiners may have gotten ahead of themselves, given that these demand figures and draws are likely to continue to be lumpy, week over week, as the whole U.S. opens up,” said Trisha Curtis, co-founder of PetroNerds LLC in Denver