You mean to say you don’t believe we are going to become energy independent at the current consumption rates?
You also mean to suggest that fracing source rocks and depleted reservoirs will not result in endlessly high production rates?
I’ll be dashed. Knock me over with a feather.
You mean to say you don’t believe we are going to become energy independent at the current consumption rates?
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current consumption is relatively flat. we will become energy independent by great expanding production. energy independence won’t take that long either. about 5 years.
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You also mean to suggest that fracing source rocks and depleted reservoirs will not result in endlessly high production rates?
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from the beginning of the production of oil back in the mid 19th century, the total oil that has been taken out of the ground has been only about 5-10% of the oil that’s commercially available. New techniques and higher prices are enabling drillers to take another 5-15% of the oil out of the ground. As the technology improves that percentage will go up. If prices and demand stayed high they drillers could go on high production rates for another 30 years or so.
However, the end of the oil age is in sight. 10-15 years from now demand for oil will decline and so will the price and so will drilling.
much of the oil in the ground will remain there.
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I’ll be dashed. Knock me over with a feather.