US Shale Oil "False Promise"

[Economy 52,955]

Oil experts and a--lysts weighed in on US Shale, or shale in general of any Country and labeled it a "false promise" in terms of powering global oil demand for a number of reasons

 

#1 individual shale deposits depleate very quickly. When your drill at a site, there is as much as a 70% decrease in production by that well just 1-3 years later. Thats a much faster decline than any other type of reserve. This means constant new drilling must be made just to maintain production to make up for production declines in existing wells. The more production grows, the more constant drilling needs to be made, that makes shale oil production growth almost like a ponzi scheme

 

#2 Companies have gone after the "sweet spots" first. The areas of shale deposits that have more concentrated reserves and that produce better. Once these reserves are gone, they will have to move on to drilling less productive shale wells in other areas that will require more wells for the same amount of production

 

The US EIA agency themselves expect US oil production to peak by 2017/2018 and begin declining by 2020

 

 

[Versace 8,080]

Our threads are flopping

[Economy 52,955]

Our threads are flopping

​people dont care about serious issues or serious matters... or even something someone else is proud about (such as your writting songs thread)

 

if u make a s-xual thread or a celebrity pun, garanteed that would get way more attention than useful stuff  

 

Kind of annoying. i spend a considerable amount of tim researching social issues, solutions, points of view etc.... then most people disagree with my views and criticise it even tho they dont care enough to spend a considerable amount of time looking up on it and learning it

 

I get labeled heartless or conservative... when in fact i care A LOT about social problems. Its just that i know enough about these things to know whats realistic and what isnt. Most of the stuff people propose on GGD about many issues are not realistic at all, its from fairyland

[Better Day 5,766]

@Economy I see indirect shade about me in your previous post  

Is Shale Oil the same as Shale Gas?

 

[Economy 52,955]

@Economy I see indirect shade about me in your previous post  

Is Shale Oil the same as Shale Gas?

 

​i was talking in general. not u specifically. you didnt even come to my mind

 

and sort of... shale refers to the rock formations. it can contain natural gas or oil

 

Theres actually WAY more shale gas reserves than shale oil reserves. The only reason shale oil gets so much attention is because worries about oil supply have been around for a long time and rise in supply from shale oil and oil sands may help supply world for now

 

There was never any Shortage of Natural Gas however o shale gas didnt get as much attention. But theres lots of it.

 

China alone (largest holder of shale gas) holds over 1,100 trillion (1.1 quadrillion) cubic feet of shale gas. The USA hold some 800 Trillion Cubic feet. The reserves as astronomical. Thats on top of conventional natural gas from regular wells we've been using until now.

 

Also Natural Gas pollutes less than Crude Oil and A LOT LESS than coal. Its the cleanest of the 3 main fossil fuels. And since its so abundant, thats why some wanna make more electricity out of it until renewables are cheaper and more reliable.  Most Developed Countries dont build new Oil or Coal power plants anymore but still build new Natural Gas plants (now the world 2nd biggest source of electricity after Coal)

[Woolfsmck 2,763]

​people dont care about serious issues or serious matters... or even something someone else is proud about (such as your writting songs thread)

 

if u make a s-xual thread or a celebrity pun, garanteed that would get way more attention than useful stuff  

 

Kind of annoying. i spend a considerable amount of tim researching social issues, solutions, points of view etc.... then most people disagree with my views and criticise it even tho they dont care enough to spend a considerable amount of time looking up on it and learning it

 

I get labeled heartless or conservative... when in fact i care A LOT about social problems. Its just that i know enough about these things to know whats realistic and what isnt. Most of the stuff people propose on GGD about many issues are not realistic at all, its from fairyland

That's because a large percentage of members now aren't adults yet ... Hence they aren't interested in global economic issues 

[Woolfsmck 2,763]

Shake deposits are more costly to recover because of these issues,  but adding more oil to the supply when middle eastern sources are so unreliable is the main goal

[Economy 52,955]

Shake deposits are more costly to recover because of these issues,  but adding more oil to the supply when middle eastern sources are so unreliable is the main goal

Thing is... Reserves are there, but if theres only a bit of easy to get oil, once they gotta move on to harder to get deposits, they will not only get less productivity per drilled well making growing over-all production tough, but also raise the cost per barrel as a result

 

that could be one of the reasons Americas own energy agency recognises decline in just a few years... Cause of easier to get wells bring drilled first, and a fast peak in each individual well

 

of course if oil prices went up really high, or extraction technologies improved further, shale peak may take much longer