U.S. will not achieve energy independence

[dan_s]

Watch this video and you will see why.

http://www.fool.com/investing/general/2 ... -2014.aspx

As I point out in almost all of my presentations, the steep decline curves in all the shale oil plays mean that we simply cannot drill enough new wells to offset the declines in the old wells. We are already seeing the rate of growth slow in the Bakken. U.S. oil production will peak around 10.5 MMBOPD and today we consume over 14 MMBOPD of crude oil. It is impossible for us to maintain the growth we've seen in the last couple years.

This does not mean there is anything wrong with the Bakken, Eagle Ford or Permian Basin. They are fantastic assets for the U.S. and they will produce lots of oil for decades to come.

The only way for the U.S. to become energy independent is for us to have a massive push to Ngas for transportation fuels. I don't see that happening this decade, but it is possible in the future.