{"id":42849,"date":"2019-01-16T16:05:11","date_gmt":"2019-01-16T21:05:11","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42849"},"modified":"2019-01-16T16:05:11","modified_gmt":"2019-01-16T21:05:11","slug":"art-berman-exposing-the-false-promise-of-shale-oil","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42849","title":{"rendered":"Art Berman: Exposing The False Promise Of Shale Oil"},"content":{"rendered":"<div class=\"article-header\">\n<div class=\"article-photo\">\n<div class=\"emvideo emvideo-video emvideo-youtube\">\n<iframe loading=\"lazy\" id=\"media-youtube-html5-2\" class=\"media-youtube-html5\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/zkzQRiiN1Jw?version=3&amp;autohide=1&amp;fs=1&amp;modestbranding=1&amp;rel=0&amp;wmode=transparent&amp;showinfo=0\" width=\"292\" height=\"200\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<div class=\"article-details\">\n<h3 class=\"title\"><a href=\"https:\/\/www.peakprosperity.com\/podcast\/114710\/art-berman-exposing-false-promise-shale-oil\">Art Berman: Exposing The False Promise Of Shale Oil<\/a><\/h3>\n<div class=\"article-lede\">\n<div class=\"field field-type-text field-field-lede\">\n<div class=\"field-items\">\n<div class=\"field-item odd\"><strong>Estimates of recoverable oil are proving wildly wrong<\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"node-top\" class=\"node-top row nested\">\n<div id=\"node-top-inner\" class=\"node-top-inner inner\">\n<div id=\"block-pp_social_buttons-pp_toolbar_top\" class=\"block block-pp_social_buttons odd first last  grid16-10\">\n<div class=\"inner clearfix\">\n<div class=\"content clearfix\">\n<div id=\"st-1\" class=\"sharethis-inline-share-buttons st-left st-has-labels  st-inline-share-buttons st-animated\">\n<div data-network=\"linkedin\"><\/div>\n<div class=\"st-btn st-remove-label\" data-network=\"linkedin\">Art Berman, geological consultant with over 37 years experience in petroleum exploration and production, returns to the podcast this week to debunk much of the hopium currently surrounding America&#8217;s shale oil output.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content clearfix\">\n<p>Because the US is pinning huge hopes on its shale oil &#8220;revolution&#8221;, so much depends on that story being right. Here\u2019s the narrative right now:<\/p>\n<ul>\n<li>The US, is the new Saudi Arabia<\/li>\n<li>It&#8217;s the swing producer when it comes to influencing the price of oil<\/li>\n<li>The US will be able to increase oil production for decades to come<\/li>\n<li>New technology is unlocking more oil shale supply all the time<\/li>\n<\/ul>\n<p>But what if there\u2019s evidence that runs counter to all of that?<\/p>\n<p>We\u2019re going to be taking a little victory lap on this week&#8217;s podcast because <em>The Wall Street Journal<\/em> has finally admitted that shale oil wells are not producing as much as the companies operating them touted they would produce &#8212; which is what we\u2019ve been saying for years here at PeakProsperity.com, largely because we closely follow Art&#8217;s work:<\/p>\n<blockquote><p><em>The Wall Street Journal<\/em> did some research and they got the general point that the wells are not as good as advertised.<\/p>\n<p>But what they missed is just how much farther off many of these reserves are than even the discounted reserves that they&#8217;ve reported.<\/p>\n<p>Bottom line: if the understatement is only 10%, that\u2019s a rounding error and it\u2019s not that much of an issue to the average person. But I&#8217;ve been trying for a decade to get the number that I independently develop to get anywhere close to the published numbers. In most cases, I can only get near 60% or 70% of them. So, the gap, I think is much more substantial.<\/p><\/blockquote>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Art Berman: Exposing The False Promise Of Shale Oil Estimates of recoverable oil are proving wildly wrong Art Berman, geological consultant with over 37 years experience in petroleum exploration and production, returns to the podcast this week to debunk much of the hopium currently surrounding America&#8217;s shale oil output. Because the US is pinning huge [&hellip;]<\/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":[9860,8195,263,588,3692,3576,723],"class_list":["post-42849","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-adam-taggart","tag-art-berman","tag-energy","tag-oil","tag-petroleum","tag-shale","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42849","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=42849"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42849\/revisions"}],"predecessor-version":[{"id":42850,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42849\/revisions\/42850"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}