Wall Street Journal Article Today

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Roadster
Posts: 85
Joined: Tue Dec 14, 2010 7:34 pm

Wall Street Journal Article Today

Post by Roadster »

U.S. Shale Boom Shows Signs of Peaking as Big Oil Wells Disappear--Permian Basin

Dan I use to hear that today's technology can "only" get out 10% of the Permian Basin oil reserves.

Have you also heard this??

Will technology be developed to extract the other 90%?
dan_s
Posts: 34570
Joined: Fri Apr 23, 2010 8:22 am

Re: Wall Street Journal Article Today

Post by dan_s »

The Shale is VERY TIGHT rock. It contains a lot of oil, but secondary and tertiary methods don't work well in zones with very low porosity. It is all about the price. We've harvested the "Cheap Oil".

IMO instead of wasting $Trillions on Wind and Solar, we need to focus on how to turn more natural gas into transportation fuels. The technology for that already exists and it is clean.

America is blessed to have thousands of TCF of recoverable natural gas.
Dan Steffens
Energy Prospectus Group
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