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Under the Securities and Exchange Commission’s (SEC) new rule for oil and gas, companies have been allowed much greater freedom to book reserves. On the surface, there is a good argument to be made for expanding the definition of allowable booked reserves. But in practice, this may have opened the door to false valuations of shale assets.
-EOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year
-Shale gas will not cut EU import dependence: study
-EU study sparks regulation debate over ‘high-risk’ shale gas
-Davey takes aim at shale gas lobby with defence of Energy Bill
-California fracturing takes less water than Texas
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Middle East
-The Eurozone crisis
-Quote of the week
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The USGS recently released new EUR numbers for all shale gas plays in the country and the numbers were significantly lower than operator claims. Interestingly, this same phenomenon is playing out in shale oil as well.
-The energy-water nexus, 2012 edition
-Treading water
-The U.S. Drought and Electricity Generation
-US and EU must change biofuel targets to avert food crisis, says Nestlé chief
The extraordinary hype surrounding this industry has been impressive to say the least. It has clearly been a public relations exercise of disproportionate scale compared to what the wells are actually producing. That should have been our first clue. Methinks they doth propound too much.
-Shell Wins U.S. Permit To Prepare For Arctic Drilling
-Gazprom puts giant Shtokman Russian Arctic gas project on ice over costs
-Cold Hands, Determined Hearts
-Peak oil returns: the “unconventional oil” bubble may well pop in Arctic waters
-Drilling permits decline sharply for the Pennsylvania Marcellus formation
-University of Texas Compounds Conflict Question in Review of Gas Report
-Fracking Hazards Obscured In Failure To Disclose Wells
-Natural Gas and Its Role In the U.S.’s Energy Endgame
-Destroying Precious Land for Gas
-Fracking is too important to foul up
-Shale gas failure offers rescue for EU green energy drive
On the surface one would think that the revolutionary advances in worldwide communications–made possible first by the telegraph, then by the telephone, the radio, the television and now by the Internet–would lead to a broad consensus on such issues as climate change and resource depletion. Almost everyone now has nearly instant access to the latest scientific information on these issues. Yet, no consensus has emerged, at least not one strong enough to bring about definitive action.
-Every Household in India to Have Electricity in 5 Years: Indian PM
-India’s other power failure (and its opportunity)
-Smart Grid Solutions in India [White Paper]
-Asia’s real power struggle
-Shale oil everywhere… for a while
-Fracking Hazards Obscured In Failure To Disclose Wells
-Carbon Briefing: The coming PR battle over shale gas
A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Oil Market Report
-Ethanol and the drought
-Quote of the week
-Briefs
