Tag Archives: Art Berman

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’s shale oil output.

Because the US is pinning huge hopes on its shale oil “revolution”, so much depends on that story being right. Here’s the narrative right now:

• The US, is the new Saudi Arabia
• It’s the swing producer when it comes to influencing the price of oil
• The US will be able to increase oil production for decades to come
• New technology is unlocking more oil shale supply all the time

But what if there’s evidence that runs counter to all of that?

We’re going to be taking a little victory lap on this week’s podcast because The Wall Street Journal has finally admitted that shale oil wells are not producing as much as the companies operating them touted they would produce — which is what we’ve been saying for years here at PeakProsperity.com, largely because we closely follow Art’s work.

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For several decades now the US has been getting its energy policy very badly wrong.  It's so short-sighted, and rely so heavily on techno-optimism, that it barely deserves to be called a 'policy' at all. 

Which is why we predict that in the not-too-distant future, this failure to plan will attack like a hungry wolfpack to bite down hard on the US economy’s hamstrings and drag it to the ground.

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• Combining Antibiotis May Stave Off Future Superbugs
• Precious Metals Price Outlook: Buy Now
• As The Currency Reset Begins – Get Gold As It Is “Where The Whole World Is Heading”
• The Strange Brain of the World’s Greatest Solo Climber
• Why Millennials Should Invest In Agriculture
• The Nature Conservancy: 2018 Photo Contest Winners

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• Stocks and Precious Metals Charts – Blue Monday – How Are the Mighty Mispricings of Risk Fallen 
• A Timeline Of The FBI And DOJ's Involvement In Hillary's Emails And The Trump Dossier
• How much are illegal activities behind the demand for crypto-currency?
• The Market Meltdown Is an Ominous Sign
• FEMA Contract Called for 30 Million Meals for Puerto Ricans. 50,000 Were Delivered.
• Shale Reality Check
• Oil Prices Ravaged By Financial Turmoil 
• Arctic permafrost home to large mercury reserves, study finds 

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Oil expert and geological consultant Art Berman returns to the podcast this week to address head-on the question: Was the Peak Oil theory wrong? With the world "awash" in sub-$50 per barrel oil, were all the warnings about persistently higher future oil prices just a bunch of alarmist hand-wringing?

In a word: No.

Art explains how the current glut of oil created by the US shale boom — along with high crude output by both OPEC and non-OPEC  producers — is a temporary anomaly. Fundamentally, we are not finding nearly as much oil as we need to continue our demand curve; and at the same time, we are extracting our reserves at a faster rate than ever. That's a mathematical recipe for a coming supply crunch. It's not a matter of if, but when.

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In spite of the recent low prices for oil and natural gas, an energy supply crunch is looming warns geological consultant Arthur Berman.

Berman's perspective should not be lightly dismissed: he has 37 years of experience in petroleum exploration and production with 20 of those years at Amoco (now known as BP). He has published more than 100 articles and reports on geology, technology and the petroleum industry during the past five years –more than 20 of those focused on the shale industry including the Barnett, Fayetteville, Haynesville, Bakken and Eagleford plays.

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