The price plunge which began in mid-June when New York oil futures trading around $105 a barrel continued this week with oil touching $80 on Wednesday before recovering to close at $81.78.
Articles: tight oil (114)
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 key question is just how many more months or years will production of U.S. shale oil (more accurately call light tight oil) continue to grow.
When it becomes apparent that US tight (shale) oil has peaked, there will be a public confidence crisis because the media are parroting the oil and gas industry’s claim that shale oil is an energy revolution and game changer. Indeed, the game will change, but in unexpected ways.
CEOs of companies engaged in shale gas and tight oil drilling are undoubtedly aware of what’s going on in their own balance sheets, hype is an essential part of their business model.
Production flows from a given oil field naturally decline over time, but we keep trying harder and technology keeps improving. Which force is winning the race?
The story of America’s new energy abundance has been accepted uncritically by too many people.
Most climate activists believe that talking about limitations on fossil fuel supplies hurts their argument for swift, decisive action on climate change. Nothing could be further from the truth.
Hopes of a shale bonanza to replace dwindling conventional resources took a battering this week.
The great Monterey Shale oil myth got its start back in July 2011 when the EIA stapled a cover on a contractor-produced “study” that it paid for entitled Review of Emerging Resources: U.S. Shale Gas and Oil Plays.