A new, landmark report shows that hopes of a long-term golden era in American oil & gas production are unfounded.
Articles: Shale Oil (153)
Drilling Deeper: A Reality Check On U.S. Government Forecasts For a Lasting Tight Oil & Shale Gas Boom
Drilling Deeper reviews the twelve shale plays that account for 82% of the tight oil production and 88% of the shale gas production in the U.S.
Faced with the prospect of losing market share to tight oil producers in the US, OPEC has simply taken the most prudent business decision. Keep the taps open.
The world is transfixed on growing world crude production driven by US shale oil but forgets to look what is happening under this remarkable growth curve.
It turns out that the oil industry has been pulling our collective leg. The pending 96 percent reduction in estimated deep shale oil resources in California calls into question the premise of a decades-long revival in U.S. oil production and predictions of American energy independence.
On May 21 the Los Angeles Times reported that “Federal energy authorities have slashed by 96% the estimated amount of recoverable oil buried in California’s vast Monterey Shale deposits...”
By now you'd think we'd be planning cautiously and conservatively for America's energy future. But thanks to the federal government's latest report on domestic energy, most everyone is again assuming that there's plenty of oil and nothing to worry about. Here's why it's dangerously wrong.
Wonders-yet-to-come seem to dominate U.S. energy policy. There is talk of changing laws to allow the exporting of oil and natural gas. There is talk of American energy independence. There is talk of an American energy renaissance and the ruination of OPEC. It is all very breathless and …
It is understandably difficult to shut out the constant din of abundance stories sponsored by the industry and its well-financed public relations machine--that is, until you understand that it's not what the industry says that's important, but what it actually does.
Energy independence. It's so easy to say, but oh so hard to actually accomplish, which is why the United States has been a consistent importer of oil since the late 1940s.