Hundreds of billions of Dollars were invested in the U.S. Shale Energy Industry by investors who were looking for a higher return on their money than they could receive from banks or other financial institutions. Sadly, most investors will not see the return of their funds as the U.S. Shale Energy Industry isn’t making the profits to pay back this debt.
However, many resource analysts aren’t able to understand the ramifications of the falling EROI – Energy Returned On Investment and Thermodynamics in the energy industry. Thus, they believe in the fantasy of unlimited oil production and economic growth on a finite planet. Analysts and the public believe this nonsense due in part to claims of new revolutionary energy extraction technology. Once such company is Petroteq Energy that claims that it can produce oil sands at a low-cost of $20 a barrel.
Over the past several months, I have received countless emails from followers who provided links to articles promoting these amazing new energy technologies:
Why The Next Oil Boom Will Be Fueled By Blockchain
This Revolutionary Technology Could Deliver $22 Oil… In A $70 World
Interestingly, all of these articles were promoting the same company… Petroteq Energy.
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