Arthur Berman: Why Today's Shale Era Is The Retirement Party For Oil Production A leading geologist delivers the hard facts
http://www.peakprosperity.com/podca...ays-shale-era-retirement-party-oil-production
Reality check for people caught up in U.S. shale hype, who think oil is somehow more "plentiful" just because it's cheaper at the moment, and that a high MPG car is suddenly not necessary. It's actually more necessary every day when you realize that recoverable U.S. shale oil only amounts to 2 or 3 years of U.S. supply (if it was the only oil we could burn).
If you look back on Paul Elio's original vision for this car, gas mileage was the main focus, and I see people forgetting that just because OPEC has flooded the market to starve U.S. fracking, rendering prices artificially low. Sooner or later, and probably without much warning, that tactic will stop working and we'll see prices rise again. But we shouldn't waste oil at any price. I wish more people would keep that in mind instead of drifting back into American denial mode.
http://www.peakprosperity.com/podca...ays-shale-era-retirement-party-oil-production
Reality check for people caught up in U.S. shale hype, who think oil is somehow more "plentiful" just because it's cheaper at the moment, and that a high MPG car is suddenly not necessary. It's actually more necessary every day when you realize that recoverable U.S. shale oil only amounts to 2 or 3 years of U.S. supply (if it was the only oil we could burn).
If you look back on Paul Elio's original vision for this car, gas mileage was the main focus, and I see people forgetting that just because OPEC has flooded the market to starve U.S. fracking, rendering prices artificially low. Sooner or later, and probably without much warning, that tactic will stop working and we'll see prices rise again. But we shouldn't waste oil at any price. I wish more people would keep that in mind instead of drifting back into American denial mode.