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On Shale Gas and Tight Oil: Boom? Bust? Petering Out?
Wayne: Not a case of shale fields reaching a peak. It’s a question of how long an individual well continues to yield gas at an appreciable rate.
On Shale Gas and Tight Oil: Boom? Bust? Petering Out?
Geoffrey, I believe that once a well is completed, the gas comes out at its own rate. It does not respond to the price of natural gas.
On Shale Gas and Tight Oil: Boom? Bust? Petering Out?
John, Let’s wait and see. But it’s kind of interesting that experts are beginning to point at fracking and suggest that the emperor has no clothes.
On The Romney-Ryan Energy Plan by the Numbers
Interesting numbers but not really changing anything. Sure, the Romney team says their plan will lead to increased middle-class jobs and economic recovery. What campaign would claim otherwise? The question is how? And when it comes to energy, the Romney plan’s answer is more oil extraction with a goal of North American not U.S. “independence.” Last time I checked, Canada and Mexico were still sovereign nations.
And by the way, with regard to the Romney plan being only relevant to 2020: It can take quite some time to develop a new oil field. For example, the EIA estimates that development of the Arctic National Wildlife Refuge (ANWR) — given weather constraints — would take 10 years from the time of legislation to initial production. Offshore fields would be similarly slow.
Finally, with regard to the time it takes to transition to clean or renewable energy: An energy policy that ignores those alternatives is likely to make that transition slower, don’t you think?
On The Romney-Ryan Energy Plan by the Numbers
Your first point about price depends on how much production is cut and for how long. Your last point: perhaps that’s why fuel efficiency is so important?
On The Romney-Ryan Energy Plan by the Numbers
Reality check: Romney is against the latest round of CAFE standards. http://www.nytimes.com/2012/08/29/business/energy-environment/obama-unveils-tighter-fuel-efficiency-standards.html
On The Romney-Ryan Energy Plan by the Numbers
Given that U.S. oil reserves are such a small fraction of the world’s total reserves, it is hard to imagine a scenario where production from the United States could control global prices. For example, if an increase in U.S. production caused a price decrease, the major suppliers (e.g., Saudi Arabia) could easily lower their production to bring the price up.
On Shale Gas and Tight Oil: Boom? Bust? Petering Out?
David: Not “hype” in this case because of a hoax. Hype because of a mistaken assumption of how wells will produce over time. Big difference there.