Hey Dusty,
The point was not anything envirowacko. Don’t care about that.
Don’t really even care about the waste.
But I do care about the hype. This “story” is being leaned on for BS projections of US energy independence (always bogus phrasing since only oil brings food to grocery store shelves, and only oil drives the 400 Hp tractors that get it planted in 50,000 acres before planting season expires).
Sorry, digression. This field is being leaned on and hyped as the salvation of US oil production and elimination of US oil imports and it’s BS. Oil is measured in barrels/day. Not in barrels. It doesn’t matter what’s under the ground there if the rate it comes up peaks and falls.
There is some fracking going on in West Texas now, too, and the Eagleford is on that photo. They aren’t immune to geology. Their horizontals die vertically, too. You’re in the biz so you KNOW California is in freefall. You KNOW Oklahoma is down about 85% from the 1930s. You KNOW Illinois oil output is down a similar 75% from the 1930s. This isn’t going to reverse. This is forever. These shale plays are a blip on the relentless down escalator.
You probably already know this, but Oklahoma is also one of the states seeing growth in oil production. Still early, but expected to continue to climb. This is not to be confused with easy (cheap) oil supply from the 30s.
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPOK2&f=M