Shale gas

“Drill Baby Drill” – popping the shale bubble

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The real challenges—and costs—of 21st century fossil fuel production suggest that such vastly increased supplies will not be easily achieved or even possible. The geological and environmental realities of trying to fulfill these exuberant proclamations deserve a closer look.This report provides an in-depth evaluation of the various unconventional energy resources behind the recent "energy independence" rhetoric, particularly shale gas, tight oil.

The Making of a Natural Gas Glut

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A former investment banker says the explosion in shale gas development, such as frenzied activity in northern B.C., was a financial mania largely driven by Wall Street bankers intent on capitalizing upon a record $46-billion worth of mergers and acquisitions that shook up the troubled industry in 2011.

Shale gas, tight oil, and fracking – Feb 20

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•Reports: Shale Gas Bubble Looms, Aided by Wall Street •Geologist’s provocative study challenges popular assumptions about ‘fracking’ •China slow to tap shale-gas bonanza •Fracking is the only way to achieve Obama climate change goals, says senior scientist •Marcellus Shale Fracking Study To Research Natural Gas Drilling Health Effects

Comments on the hearing on “American Energy Security and Innovation”, February 5th, 2013

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“Many small creeks make a large stream” is a Swedish saying that describes well the production of shale oil and shale gas. Equivalent English sayings are, “Many a little makes a mickle”, (that originated in Scotland and then President George Washington used in a text of 1793) and “Many drops make a river”. If one looks at a map of the Bakken showing only the top 20% best producing wells one cannot deny that there are many “drops”. The hearing that the Subcommittee on Energy and Power (US House of Representatives) held on 5 February, investigated whether all these many wells can amount to “American Energy Security”.

Natural gas & fracking

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•Report questions long-term productivity of gas wells in Barnett Shale•Town Sued After Barring Debate on Gas Extraction at Meetings•PwC: Shale oil surge poses threat to renewables•Gas company targets protected Manú park in Peruvian Amazon•NY fracking decision faces further delay on health study

Shale gas, tight oil, and fracking – Feb 12

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•The Myth of “Saudi America”•Colorado Communities Take On Fight Against Energy Land Leases•Romania reverses course on shale gas•German environment minister: ‘we want to limit fracking’•Shale oil is no threat to oil producers•Shale gas distracts EU “action heroes” from saving the climate•Tech Talk – Future Bakken Production and Hydrofracking

Gas flaring at Bakken and Eagle Ford

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Since the IEA presented its World Energy Outlook report of 2012 the world’s press has spread the news that the USA can become a larger oil producer than Saudi Arabia. They have also reported on increased production of shale gas. During recent years production of shale gas has increased so greatly that the price of natural gas has fallen to levels where it is no longer profitable to drill new wells. I have previously described how drilling rigs are leaving the shale gas fields. Today, the Oil&Gas Journal reported that, “Oil prices rise in mixed market but gas ‘falls off cliff’”.

The really, really big picture: There isn’t going to be enough net energy for the economic growth we want

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[Many longtime followers of the Crash Course have asked Chris to update his forecasts for Peak Oil in light of the production increases in shale oil and gas over recent years. What started out as a modest effort at clarification morphed into a much more massive 3-report treatise as Chris sifted through mountains of new data that ultimately left him more convinced than ever we are facing a global net energy crisis–despite misguided media efforts intended to convince us otherwise. His reports are being released in series over the next several weeks; the first installment is below.]