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Could California’s Shale Oil Boom Be Just a Mirage?
Sharon Kelly, DeSmogBlog
Could California’s Shale Oil Boom Be Just a Mirage? (via
Desmogblog)
Since the shale rush took off starting in 2005 in Texas, drillers have sprinted from one state to the next, chasing the promise of cheaper, easier, more productive wells. This land rush was fueled by a wild spike in natural gas prices that helped make…
(more…)
Tags: earthquakes, Electricity, Energy Policy, gas flaring, Pollution, Shale gas, tight oil
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Hence, the severe restrictions in the flow of oil though the Strait of Hormuz, resulting from the recent US-Iranian attacks, may be seen as a stark rehearsal for the consequences of a severe shock in the global oil supply, as might be experienced from a “peak oil” crisis, with volatile price spikes and supply chain disruptions.
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