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Iran deal oil market impact:
- ENI pulling out of Iran
- Allianz pulling out of Iran
- Will China go into Iranian market? This may be a card to play during trade negotiations.
Head of Iranian central bank declared terrorist by U.S. government - all Iranian oil transactions cleared through Iranian central bank.

Burgrabben Report https://www.dropbox.com/s/uhk2xxq9vfzdknt/Burggraben%20Crude%20Oil%20Presentation%20041818.pdf?dl=0
Forecasts $100 oil next year
$40 by 2020.
Global demand for oil being underestimated significantly

Curacao - http://curacaochronicle.com/main/curacao-is-looking-for-third-party-to-operate-the-refinery/
Refinery looking for new operator without PdVSA

Other articles to check out:
U.S. Shale Forecast Looks Up, But Debt Looms
Can Anything Stop Oil Prices From Going Higher?

Also, email us ryan@globalenergymedia.com with questions and topics you\'d like us to discuss in future podcasts.

Interview with David Blackmon
https://www.forbes.com/sites/davidblackmon/
https://shalemag.com


Shale oil reserves - some estimates are understands because looking at only the data being reported to the SEC and that only includes wells drilled, not wells intended to drill

Infrastructure - pretty much running at full capacity now. Dozens of pipelines in process of being constructed over next year. Over 1/2 dozen high capacity pipelines will come online in a year.

Producers who don\'t have contracts or reserved capacity currently have to sell their oil at a discount. Prices for transport are high because lots of competition for space in pipelines

Personnel constraints - Pipelines larger constraint for smaller companies. Larger companies don\'t have enough welders, truckers, roughnecks - shortage is severe. (can make $80-$100 K/year driving a sand truck!)

Sand constraints will be alleviated soon as new sand minds coming online.

There is a potential for US to gain global market share.

Constraining factor is refining capacity. Gulf refineries are running out of capacity to refine light, sweet grade of crude.

Port constraints significant in terms of preventing US from exporting more. Ports need dredging to accommodate larger ships, especially port of Corpus Christi. Lack money to dredge this port, project must be done by Army Corps of Engineers.

Refineries: Haven\'t built new refineries in the US since the 1980s - right now 1 being built in south Texas and 1 in South Dakota that are geared toward processing all the light crude oil but in order to really increase US capacity to refine the crude we are producing, would need to invest significant amount of money in refineries. Refineries have become prohibitively expensive in US due to environmental regulations and permitting. Would require a great deal of capital.

Demand growth has exceeded projections from EIA and IAE from earlier this year.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com'