By Martin Payne, Peak Opportunities
An update is warranted to address comments from friends and followers - comments such as "Gee, I guess Peak Oil has been postponed?", or "I guess we don't have to worry about Peak Oil anymore!" Often they have a smile on their face ... The shale oil plays will reduce but not eliminate our reliance on foreign oil. Should a supply disruption occur over the next decade, we will be better off having this production than not. The natural gas and NGL from these plays will provide high-quality, low-carbon heat energy for electricity as well as feedstock for plastics - which could help jumpstart manufacturing. Overall, these plays don't solve the much larger issue of Peak Oil, but they do help "buy time."