8 thoughts on “A good read on shale

  1. http://energybulletin.net/stories/2012-12-09/the-one-chart-about-oil-s-future-everyone-should-see

    “But even if the optimists are correct–and there can be no guarantee that they will be–this source of oil will only add 3 to 4 million barrels of daily production. What Sweetnam’s chart tells us is that we must find and bring into production the equivalent of five new Saudi Arabias between now and 2030 in order to meet expected demand even if the volume of tight oil reaches its maximum projected output.”

    • I wish that were true, for the sake of the world’s environment. Unfortunately, there is enough coal in the world to turn the earth into a toasty warm planet, and coal can be liquefied into gasoline at around $100 a barrel. China is already doing it on a large scale and the US is not far behind…

  2. I am hearing lots of opposition against Shale gas here in the US. Look at the chemistry of methane. It produces tons of CO2 when burned. Global warming anyone?

    And where do we leave the pollution of water sources imminent to the fracking process?

    I would love see oil prices crash. &%ck oil and the absurd, unearned wealth -source of disgusting corruption- it generates for the Venezuelas of this world. But hey, that might not happen in the short term.

    • Global Warming? This is warmongering Gore style.
      Climate Change is a different matter, how much of it is produced by humans is the subject of an ongoing debate. What I can see is that the market is still the driving force behind any structural changes on the energy sector. The famous cap and trade was a scam, REDD+ is a scam, any intent to transform “hot air” into a commodity will be a scam. Water availability and biodiversity loss are more imminent and more concrete problems, in Venezuela’s case deforestation and forest degradation are posing a big risk on protected spaces. Our national park system is a whole mess. Lot of thinks to do before getting worried about climate change, shale gas and fracking. PDVSA is one of the biggest offenders when building infrastructure, and there’s no way something can be done due to the company’s ascendancy and power.

  3. I’ve been predicting the shale boom for awhile now. Ironically, it was boosted by renewables, because renewables rely on natural gas peaking plants (easy to ramp up, 50% efficient, they’re jet turbine generators basically). Conventional gas had already peaked when unconventional “shale gas” became the new form of natural gas. So, in our (the wests’) desire to move to more sustainable energy sources (renewables) we opened up a new technology to get at shale oil. By 2017 the US will overtake Saudi Arabia as the worlds oil producer: http://www.bloomberg.com/news/2012-11-12/u-s-to-overtake-saudi-arabia-s-oil-production-by-2020-iea-says.html

    The boom is real, how it will affect Venezuelan politics is up for you guys to say, I don’t know. It certainly feels like Venezuela has squandered a brilliant opportunity as the 2000-2005 downturn in US fossil fuel production led to higher prices (about the time shale gas and unconventional sources were being sought).

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