Finance committee  That's the role they are conferring upon us as the swing producer. That was a role they historically played, and now they are saying you know what? U.S. shale can do it. We're just going to defend. They are at approximately 9.7 million barrels a day of production. Russia's numbe

Finance committee  First, slowing the growth of the shale oils is one of their imperatives. They have already lost tremendous market share in the United States. They used to be the number one supplier. Canada's now the number one supplier. Saudi's exporting less than a million barrels a day into th

Finance committee  Just to address that—and it's not necessarily speculation—I can buy a barrel of oil today at $50, or I can sell it on the forward curve for $58. If my storage costs are 75¢ a barrel per month, I'm going to make money. A lot of this forward selling is already locked in.

Finance committee  Incredible technology is in play to access oil today.

Finance committee  As I addressed earlier there are about 1.5 million barrels a day of oversupply. Global demand is growing by about one million barrels a day. Remember there are declines in oil fields all around the world. The oil sands have a unique profile. In shale oil, as Andrew rightly poin

Finance committee  We do it better than anybody else.

Finance committee  Absolutely not. I find that comment offensive. First, we have oil sands, which is probably what he was referencing, and then we have our own shale and conventional oils. Oil sands is the area I worked in before joining Packers Plus. I had brought American executives from a Calif

Finance committee  Yes, the oversupply in gas—gas being trapped in North America—was much larger. Most wells don't produce exclusively oil or gas. What happened in the last number of years when gas prices collapsed and oil prices went up, people drilled for liquids, and they got associated dry gas

Finance committee  Tidewater.

Finance committee  Five, solid.

Finance committee  The difference is in the magnitude. This should have been addressed earlier, but there are approximately 93 million barrels a day of consumption expected in global oil markets in 2015. Current production is just over 94.5 barrels a day, so the excess supply looks to be about 1.5

Finance committee  Yes. It's not egregious.

Finance committee  Our business is going to thrive and survive with the capital expenditures of the large E and P producers. If they're cutting, then we're just going to have less work. The opportunity, though, is in market share. As my opening statement said, our completion technology was innova

Finance committee  I think the answer is in the price differential between Brent and West Texas Intermediate. Our blends are based on a discount to WTI right now. If we were able to get material volumes to the coast it would be based off the discount to Brent. I believe that Canada, being a much mo

Finance committee  I think it's absolutely critical. I'm now down in the United States in their oil capital. Witnessing the president talk about Canada's extraordinarily dirty oil extraction is offensive. I've been to the oil fields of California. I've been to Malaysia, Indonesia, Algeria, and par