“the technical accuracy is a bit lacking, too.” - t45
You agreed with thackney’s lame attack on the article, or so I thought.
Thanks for claifying with: “the article is spot on”
I should have addressed my post to thackney also.
thackney backed up his comment with the data he posted @ #13, a chart he’s previously posted or at least one similar to it. I’d seen it before and understood the context of his comment on the article trying to make horizontal drilling and fracking seem less expensive than it is when compared to the steep decline curve on flow rates.
But the conclusion that almost everybody is interested in:
If it does, it would revolutionise global energy markets, providing greater long term energy security at lower cost for many countries.
The shale fields using hydraulic fracture are NOT going to lead a significant and lasting decrease in price. If the supply out runs the demand pushing the price low, we will see the same result we have already seen in the Gas Drilling in the US.
The investors will quit spending so much to drill and complete these expensive wells when the payout falls dramatically, just like we have already seen in the gas drilling. And given the quick fall off in the production curves, it will not take long to see the supply to fall and cycle the boom/bust again.
For those not aware of the steep fall in drilling rigs going after gas in the last couple years:
U.S. Natural Gas Rotary Rigs in Operation
http://www.eia.gov/dnav/ng/hist/e_ertrrg_xr0_nus_cm.htm