Finite resources are real constraints that no magical thinking or predicting by the industry can overcome.
Last week, Post Carbon Institute published Hughes’ analysis of the Energy Information Administration’s Annual Energy Outlook 2017, which found that the EIA’s forecast for shale gas and tight oil production through 2050 was “extremely optimistic.”
The gradual climb in oil prices in recent weeks has revived hopes that US shale oil producers will return to profitability, while also renewing fevered dreams of the US becoming a fossil fuel superpower once again. Helen Thompson looks at the same shale oil revolution and draws strikingly different conclusions, both about the future of the oil economy and about the effects on US relations with OPEC, Saudi Arabia, and Russia.
The aim of this article is to show that the shale industry, whether extracting oil or gas, has never been financially sustainable.
Gasoline may stay cheap until we burn through the current market glut in perhaps a year.
There is no statistical evidence that US oil consumption increased as a result of skyrocketing tight oil production which one would expect in an oil boom.
One of Canada’s top energy analysts has warned investors and geologists that "the shale revolution" will not meet conventional expectations as a so-called game-changer in energy production.