As Trump Leaves Permian Oilfield, Industry Insiders Question If 2020 Bust Marks Texas Oil’s Last Big Boom

Today, the shale boom of the 2010’s is officially bust, battered not only by the ’s outsized failure to control COVID-19 outbreaks and an oil price war in which foreign producers proved their ability to steer oil prices, but also a wave of multi-billion dollar write-downs by oil giants

Dear NPR

I believe we will see a fairly rapid decline in the production of shale oil and gas in the U.S. as a large number of fracking companies go bankrupt.  I don’t see investors again being taken in by the promises of industry corporate executives, especially when the best drilling acreage is long gone.  That is not a message I expect to hear on NPR.

Stock Market Turmoil Undermines Claimed Energy Dominance Benefits of US Shale Drilling

Oil prices collapsed Monday amid falling energy demand and the global response to the novel coronavirus outbreak, as the number of confirmed COVID-19 cases worldwide reached over 113,000. On Friday, talks disintegrated inside the so-called OPEC+ alliance, which includes Organization of Petroleum Exporting Countries (OPEC) as well as non-OPEC members like Russia.

Peak Permian Oil Production May Arrive Much Sooner Than Expected

In mid-January, Adam Waterous, who operates the private equity firm Waterous Energy Fund, made a prediction about the crown jewel of the U.S. shale oil industry, the Permian shale play that straddles Texas and New Mexico.

“We think we are at or near peak Permian,” Waterous told Bloomberg. “The North American oil market has been grossly overcapitalized, which is not sustainable.”

This Federal Policy Enabled the Fracking Industry’s $280 Billion Loss

Most people probably aren’t familiar with the acronym ZIRP. It stands for zero interest rate policy and is the policy that unintentionally created the American fracking bubble — just one of its many consequences. And while most people may not know much (if anything) about ZIRP or the Federal Reserve (Fed), it is likely that they are aware of the impact this policy has on their own lives.

Richard Heinberg on Sustainable Nation Podcast

Richard Heinberg joins Sustainable Nation to discuss:

The current state of energy and its contributions to the climate crisis
The shale gas and tight oil bubble
Community resiliency
The transition to a fossil fuel free future
Recommendations and advice for sustainability leaders

The Peak Oil President?

The frequency of Internet searches for the term “peak oil” has waned dramatically in recent years; now even the number of articles announcing the “death” of peak oil has dwindled, so universal is the assumption that the concept is completely debunked. Why bother beating a dead horse? With supreme irony, it could be within the next few years when the maximum-ever rate of world oil production is actually achieved, to be followed by terminal decline.