{"id":24910,"date":"2017-08-27T15:10:12","date_gmt":"2017-08-27T20:10:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=24910"},"modified":"2017-08-27T15:10:12","modified_gmt":"2017-08-27T20:10:12","slug":"why-the-shale-oil-miracle-is-becoming-a-debacle","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=24910","title":{"rendered":"Why The Shale Oil “Miracle” Is Becoming A “Debacle”"},"content":{"rendered":"
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klublu\/Shutterstock<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Why The Shale Oil “Miracle” Is Becoming A “Debacle”<\/a><\/h3>\n
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Dispelling the magical thinking behind the hype<\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Energy is everything.\u00a0<\/em><\/p>\n

This is an amazingly important concept. Yet it’s almost universally overlooked.<\/p>\n

Sometimes it\u2019s hard to appreciate the magical role energy plays in our daily lives because most of what we experience is a derivative of it. The connection is hidden from direct view.\u00a0 Because of this, most people utterly fail to detect or appreciate the priceless and irreplaceable role of high net-energy fuel sources (such as oil and gas) to our modern lifestyle.<\/p>\n

With high net-energy, society enjoys increasing complexity and technological advances. It’s what enables us to pursue massive goals like desalinating billions of gallons of seawater, or going to Mars. \u00a0But without high net-energy fuel sources, our capabilities quickly regress to those of decades — or even centuries — past.<\/p>\n

Which is why understanding where we truly are in the ‘net-energy story’ is so incredibly important. Is the US on the cusp of being “energy independent” from here on out? Is the “shale miracle” ushering in a glorious new ‘boom’ era that will vault America to unprecedented prosperity?<\/p>\n

No.<\/em> The central point of this report is that the US is deluding itself when it comes to energy abundance (generally) and oil (specifically).<\/p>\n

Yet that’s not what we hear from the cheerleaders in the industry or in our media. From them, we hear a\u00a0silver-tongued narrative of coming riches — a narrative that contains some truth, some myth, and a lot of fantasy.<\/p>\n

It\u2019s those last two parts — the myths and fantasies — that are going to seriously hurt many investors, as well cause a lot of extremely poor policy and investment decisions.<\/p>\n

The bottom line is this: The US shale industry resembles a fraudulent Ponzi scheme much more so than it does any kind of “miracle”.<\/em><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

klublu\/Shutterstock Why The Shale Oil “Miracle” Is Becoming A “Debacle” Dispelling the magical thinking behind the hype Energy is everything.\u00a0 This is an amazingly important concept. Yet it’s almost universally overlooked. Sometimes it\u2019s hard to appreciate the magical role energy plays in our daily lives because most of what we experience is a derivative of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[48,3596,251,263,8227,349,592,10838,2218,1616,15725,723,724,15726,895,15727],"class_list":["post-24910","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bakken","tag-chris-martenson","tag-eia","tag-energy","tag-energy-independence","tag-gas","tag-oil-price","tag-oil-wells","tag-peak-prosperity","tag-ponzi-scheme","tag-shale-miracle","tag-shale-oil","tag-shale-revolution","tag-shale-wells","tag-wti","tag-wtic"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24910"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24910\/revisions"}],"predecessor-version":[{"id":24911,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24910\/revisions\/24911"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}