Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

TexasTowelie

(116,745 posts)
Sat Oct 19, 2019, 02:58 PM Oct 2019

Peak Shale: How U.S. oil output went from explosive to sluggish

America’s shale boom got the world accustomed to soaring production. Now growth has slowed, and a cloud has formed over the industry.

Hydraulic fracturing pushed the U.S. closer to its long-sought goal of energy independence at a time of unprecedented geopolitical risk. Wells from Texas’s Permian Basin to the Bakken in North Dakota turned farmers and ranchers into overnight millionaires. Drivers enjoyed cheap gasoline, decent-paying jobs sprung up in small towns and new technology attracted investment from all corners of the world, keeping drillers busy.

It’s true that the end of the boom has been foretold before. For years, the good times came with the warning that a litany of financial and engineering issues would doom the revolution. Such naysaying was proven wrong again and again by the industry’s resilience. Producers were able to borrow cheaply, fine-tune operations and trim costs along their supply chains.

But the tea leaves look different this year. Money isn’t as plentiful for an industry that in the past decade burned through nearly $200 billion. Investors are restless. Returns haven’t matched rocketing production, with the S&P 500 Oil & Gas Exploration Index losing 21 percent in the past 10 years, compared with a 177 percent rise in the wider market.

Read more: https://www.mrt.com/business/oil/article/Peak-Shale-How-U-S-oil-output-went-from-14535375.php
(Midland Reporter-Telegram)

2 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Peak Shale: How U.S. oil output went from explosive to sluggish (Original Post) TexasTowelie Oct 2019 OP
Without looking at the article, I think we have been trying to pull out of foreign dependence while LuvLoogie Oct 2019 #1
Fracking has also contributed significantly to fucking the environment Spider Jerusalem Oct 2019 #2

LuvLoogie

(7,542 posts)
1. Without looking at the article, I think we have been trying to pull out of foreign dependence while
Sat Oct 19, 2019, 03:40 PM
Oct 2019

trying to reconcile a gaol to protect our environment. It's a threading of the needle which relies upon a concurrent development of renewable sources.

That strategy has been sabotaged by this administration. It's all gangbusters production versus any kind of conservation/efficiency/renewable balance.

 

Spider Jerusalem

(21,786 posts)
2. Fracking has also contributed significantly to fucking the environment
Sat Oct 19, 2019, 04:20 PM
Oct 2019

the rise in atmospheric methane over the past decade is all from fracking and it's probably what's driving climate change to accelerate to where we're seeing things happening now that most models didn't expect until 2090 or so.

Latest Discussions»Retired Forums»Peak Oil»Peak Shale: How U.S. oil ...