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David Hughes’ Shale Reality Check 2019
David Hughes’ Shale Reality Check 2019 1.9 million. 13 trillion. 10 billion. These are the numbers that jumped off the page when I read PCI Fellow David Hughes’s latest “shale reality check” report on the U.S. government’s forecasts of domestic oil and gas production. To elaborate, these forecasts mean that by 2050: 9 million new oil and gas wells will […]
Secret Survey: U.S. Shale In A State Of ‘Deep Anxiety’
Secret Survey: U.S. Shale In A State Of ‘Deep Anxiety’ The financial stress sweeping over the U.S. shale sector has led to a sharp contraction in activity. Oil and gas activity in Texas and parts of New Mexico declined in the third quarter, with the Dallas Fed’s business activity index reporting a reading of -7.4, down […]
Report: ‘No Evidence That Fracking Can Operate Without Threatening Public Health’
Report: ‘No Evidence That Fracking Can Operate Without Threatening Public Health’ More than 1,500 scientific studies on the health and climate impacts of fracking prove its dangerous effect on communities, wildlife and nature. In 2010 when I first started writing about hydraulic fracturing — the process of blasting a cocktail of water and chemicals into […]
LOUSY SHALE ECONOMICS: Financial Troubles Continue At ExxonMobil
LOUSY SHALE ECONOMICS: Financial Troubles Continue At ExxonMobil After reporting lower than expected earnings, ExxonMobil’s stock price sold off on Friday. The company blamed poor performance on reduced production volumes and a weaker oil price. However, the real culprit will turn out to be Exxon’s big move into the Great U.S. Shale Oil Ponzi Scheme. […]
Will the Oil Patch Bust Trigger Recession?
Will the Oil Patch Bust Trigger Recession? This seemingly inexhaustible credit line is now drying up, with severely negative consequences for oil producers with debt that’s coming due. Could the oil patch bust triggered by oil plummeting from $100/barrel to $50/barrel kick the U.S. into recession? Longtime correspondent B.C. recently observed: The question is whether the incipient […]
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 […]
Big Oil Slashing Spending Amid Low Prices
Big Oil Slashing Spending Amid Low Prices. Oil prices continue to slide in mid-December, slumping towards another key threshold of $60 per barrel. Oil prices hit a five-year low on December 10. While many major oil players have gone to lengths to assure markets that they can weather the price downturn – and indeed it is far […]
The Oil Market Actually Works, And That Hurts – The Automatic Earth
The Oil Market Actually Works, And That Hurts – The Automatic Earth. Please allow me to revert back again a little to what I wrote earlier today in Will Oil Kill The Zombies? I think we need to be clear on what’s going on here. The oil market actually works. And that’s a rarity in today’s world […]
Will Oil Kill The Zombies? – The Automatic Earth
Will Oil Kill The Zombies? – The Automatic Earth. Oil producer Russia hikes rates to 10.5% as the ruble continues to plunge, while fellow producer Norway does the opposite, and cuts its rates, but also sees its currency plummet. As Greek stocks lose another 7.35% after Tuesday’s 13% loss on rumors about what the left […]
