Steve Levine cautions against the “age of irrational petro-exuberance” at Foreign Policy magazine.
The peak of cheap oil is still behind us but in any case the oil we have largely needs to stay in the ground if we’re not to be destroyed as a civilization by climate change.
concerning shale. I’ve been watching the Eagle Ford trend closely.
Even the 1,300 figure listed as conservative is high when you factor in wells that don’t work out and I can say without doubt, some don’t work.
The “sweet spots” will prove to be much smaller in area than those currently used to map the trend.
PS. Another opinion of the misinformed lumps the huge Colorado shale fields into a similar category as those of the Bakken and the Eagle Ford. The “oil” in the Colorado shale is more like road tar than the fuel in your gas tank and will probably never be produced.
I did inhale.