ApocaDocs: Shale gas won't stop peak oil, but could create an economic crisis

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Posted Sun Jun 23 2013: from Guardian:


	Shale gas won't stop peak oil, but could create an economic crisis http://apocadocs.com/s.pl?1371946530 One internal EIA document said oil companies had exaggerated "the appearance of shale gas well profitability" by highlighting performance only from the best wells, and using overly optimistic models for productivity projections over decades. The NYT reported that the EIA often "relies on research from outside consultants with ties to the industry."... Independent studies published over the last few months cast even more serious doubt over the viability of the shale gas boom.... "Shale gas can continue to grow but only at higher prices and that growth will require an ever escalating drilling treadmill with associated collateral financial and environmental costs - and its long term sustainability is highly questionable."

[Read more stories about: economic myopia, peak oil, fracking]

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'Doc Jim says:

But those Enron guys seemed so trustworthy.