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Tag Archives: shale oil
Fracking Bust Deepens, Sets Records
Fracking Bust Deepens, Sets Records The fracking bust that is following the phenomenal fracking boom is deepening relentlessly, week after week, and there is still no respite in sight. Drilling activity peaked in October last year, when 1,606 rigs were drilling for oil, with a four-month lag behind oil prices. But by October it was clear […]
USGS Confirms Oklahoma Quakes Are Due To Fracking
USGS Confirms Oklahoma Quakes Are Due To Fracking The debate about the cause of the exponential rise in the frequency of earthquakes in Oklahoma has really heated up in the last year, but as KFOR4 reports, The United States Geological Survey (USGS) appears to have put any doubt firmly to rest. In a strongly-worded press release, the […]
Shale sub-prime and the Ides of March
Shale sub-prime and the Ides of March “Sub-prime” is the term by which became known the debt market segment that served low quality housing in the US. Essentially these were products supporting mortgages to low-middle class families, that in 2006/07, up against the simultaneous rise in interest rates and commodities prices, produced a wave of […]
This Week In Energy: ExxonMobil On The Hunt
This Week In Energy: ExxonMobil On The Hunt Oil prices continued to pick up steam for the week ending on February 13. Brent crude traded above $60 per barrel for the first time in 2015, a psychological threshold that caught the markets by surprise and points to a potential price rebound quicker than many had […]
Never before has drilling for oil collapsed this far this fast.
Never before has drilling for oil collapsed this far this fast. The word “boom” can never be thought of as a stand-alone concept that everyone loves, particularly governments because they get to rake in the big bucks. It’s always attached to its miserable twin that no one wants to see, the “bust.” They come invariably in […]
Junk Science? Report Finds Shale Industry Cited ‘Retracted and Discredited’ Studies
Junk Science? Report Finds Shale Industry Cited ‘Retracted and Discredited’ Studies Since the beginning of the shale gas rush, the drilling industry has insisted that the process is relatively benign, arguing that its critics are simply fear-mongering and that a sober scientific review of the data fails to prove, for instance, that fracking has ever […]
Why We Won’t See An Oil Price Rebound Yet
Why We Won’t See An Oil Price Rebound Yet The front page of The Wall Street Journal on Tuesday, February 10 proclaimed “Oil-Price Rebound Predicted” according to the IEA (International Energy Agency). Not true. The February 10 IEA Oil Market Report states that some “market participants are seeing light at the end of the tunnel” based on oil company […]
Goldman Warns “Don’t Count On Rig Declines To Balance The Oil Market Just Yet”
Goldman Warns “Don’t Count On Rig Declines To Balance The Oil Market Just Yet” With WTI back under $50 once again (the mainstream media’s new Maginot Line for oil complex stability – just like $80, $70, and $60 was), it appears more investors are waking up to the reality of an over-supplied, under-demanded global energy […]
Why a UK shale gas industry is incompatible with the 2°C framing of dangerous climate change
Why a UK shale gas industry is incompatible with the 2°C framing of dangerous climate change This piece is a response to Professor Robert Mair’s Royal Society science policy blog, “Hydraulic fracturing for shale gas in the UK – an opportunity to shape a constructive way forward” (In Verba, 26th Jan): Professor Mair’s Royal Society post suggests that the development of a UK shale gas industry is […]
Wall Street Has a Dream About the Price of Oil
Wall Street Has a Dream About the Price of Oil The price of oil has bounced 20% since January 29 when the benchmark West Texas Intermediate had dipped below $44 a barrel, but according to Edward Morse, Citigroup’s global head of commodity research, that dizzying bounce is a “head-fake.” Because the fundamentals are still terrible. Oil production […]
Fracking set to be banned from 40% of England’s shale areas
Fracking set to be banned from 40% of England’s shale areas Guardian analysis reveals new rules agreed by government will make huge swath of protected areas off limits for shale gas exploration Fracking is set to be banned on two-fifths of the land in England being offered for shale gas exploration by the government, according […]
Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production
Arthur Berman: Why Today’s Shale Era Is The Retirement Party For Oil Production A leading geologist delivers the hard facts As we’ve written about often here at PeakProsperity.com, much of what’s been ‘sold’ to us about the US shale oil revolution is massively over-hyped. The amount of commercially-recoverable shale oil is much less than touted, […]
Slump in Oil Prices Brings Pressure, and Investment Opportunity
Slump in Oil Prices Brings Pressure, and Investment Opportunity Now, as the cracks appear in the latest energy boom, the forces of failure and opportunity are stirring again. Resolute Energy, a Colorado company that borrowed big in the boom, is among those in an endgame that is being played up and down Wall Street and […]
Oil Rig Count Plunges Most Ever, Oil Price Soars, Inventories Too: Catch Falling Knife, Get Fingers Sliced Off
Oil Rig Count Plunges Most Ever, Oil Price Soars, Inventories Too: Catch Falling Knife, Get Fingers Sliced Off The oil industry is dead-serious when it talks about slashing operating cost and capital expenditures. They have to. Preserving cash is suddenly a priority, after years when money was growing on trees. In the US, the cost […]
