Fracking Oil Too

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dmger14's picture
dmger14
Status: Bronze Member (Offline)
Joined: Dec 7 2011
Posts: 83
Fracking Oil Too

I have been reading more and more articles about how the US will produce much more oil and gas for decades as a result of this.  I read yet another one today stating that we could actually have a net trade surplus because of energy exports, and that the dollar would be strengthened by this.  While I realize there are other factors that affect the dollar's relative value, I am curious to know why Chris hasn't given more weight to this new technological advancement in his peak oil piece of the puzzle?  The stories I read seem to imply the reserves coming online is more of a game changer than the few year delay Chris has mentioned regarding possible new finds, etc.  I realize the depletion rates are high, but it does seem like we now have access to a lot more oil than thought possible even a few years ago.  Shouldn't this factor into any vague forecasts of collapse moreso than it has until now?  After all, IF this were true and assisted exports, this would boost GDP and at least help reduce the deficits going forward.  BTW, I still expect a collapse and am preparing now, but the more information on our situation, the better we can assess a possible timeline. 

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
NOTHING else matters.......

"it does seem like we now have access to a lot more oil than thought possible even a few years ago."

It's not the quantity that matters, it's the flow rate and net energy content.

NOTHING else matters.......

Mike

ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
Infastructure to be built, No good experience with depletion of.

This is just a little dated but from the Oil Drum.  I've watched the Bakken for at least four yrs. now, and it seems there is a lot of hype to  pump up stocks for financial reasons.  They are going to be able to bring more oil to the market, but it will take a lot of time.  This oil in all likelihood will soften the blow of Peak Oil as we accelerate the decline.  If I'm not mistaken, too, the Energy Dept. has been reducing its' potential, too.

So to sum, there is going to be some increase there, but not enough to reverse decline rates.  See if you can find a chart of US production since 1970.  It's obvious how the North Slope was only a blip on the down slope.

http://www.theoildrum.com/node/7499

Ernest

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