Insight and inspiration in turbulent times.
At a 10 percent /year decline rate, in order to simply maintain a production rate of 7.5 million b/d out to 2023, the US oil industry would have to replace the productive equivalent of every single oil field in the United States of America…
I was in Washington, D.C. last week with PCI Fellow David Hughes and Energy Policy Forum’s Deborah Rogers to help counter the prevailing (and delusional) view that Fracking Will Save America!
•Fracking could ruin German beer industry, brewers tell Angela Merkel •Amerikas Schiefergas-Boom droht jähes Ende •Fracking Tests Ties Between California ‘Oil and Ag’ Interests •Most Americans don’t give a frack about fracking •UK shale gas reserves may be ‘bigger than first thought’ •OPEC, at its Vienna meeting, grapples with shale oil
The oil and gas industry has shouted from the roof tops for quite some time about the “shale revolution” and its supposed long term economic benefits…There is just one problem. It doesn’t happen to be true.
•Oil guru says US shale revolution is ‘temporary’ •A Black Mound of Canadian Oil Waste Is Rising Over Detroit •Analysis – Oil executives tune out the call of the wild Arctic •The delayed oil impact of the ‘Arab spring’
•At margins of shale oil boom, a tempered euphoria •Fracking envy •Radioactive fracking debris triggers worries at dump sites •Poland’s shale gas hopes suffer blow •Poland Shale Boom Falters as State Targets Higher Taxes •The fight for North Dakota’s fracking-water market
The famous Danish physicist Niels Bohr once humorously observed, "Predictions are very difficult, especially about the future." And so, as the world considers yet another rosy oil supply forecast, this time from the Paris-based International Energy Agency, it is worth reviewing the agency’s record.
•Interview: Energy Investor Bill Powers Discusses Looming Shale Gas Bubble •Availability of oil in the long term is dubious, as oil prices could in fact retreat, helping the tanker market •Shale Oil And Gas: The Contrarian View
In drought-plagued New Mexico, water is gold. And this week, Mora County in the northern part of the state took a firm stand to protect its precious liquid.
•Peak oil isn’t dead: An interview with Chris Nelder •What If We Never Run Out of Oil? •‘Peak Fossil Fuels’ Is Closer Than You Think: BNEF
In this post I present the results from dynamic simulations using the typical tight oil well for the Bakken as recently presented by the North Dakota Industrial Commission (NDIC), together with the “2011 average” well as defined from actual production data from around 240 wells that were reported to have started producing from June through December 2011.
Okay, I’m going to give you the shortest course ever in energy abundance: Energy abundance depends entirely on the RATE of energy flow.
