The US has now overtaken Russia as the world’s largest oil producer, thanks to the controversial method of fracking.
The estimated amount of oil that can be ‘fracked’ outside the US is 141 billion barrel. With a daily global consumption of ca. 85 million barrel, that would be 1659 days of 4.5 year, a sobering number for those who thought that peak oil supporters are essentially Flat Earth Society material.
The industry is now preparing itself to expand outside the United States. Main candidates: Saudi-Arabia and Mexico, both countries with lax or non-existing environmental standards, not unlike the United States.
Again, according to the peak oil smart guys, is peak oil now or next year at the latest. And peak oil means: conventional + shale.
This doesn’t necessarily mean apocalyptic scenes soon; ‘peak oil’ is a confusion term. It would be much better to talk about ‘peak fossil’. And for the foreseeable future there is enough fossil material to be burned, perhaps even in unimaginable quantities.
[desmogblog.com] – “There Could Be Trouble” As US Fracking Revolution Prepares to Go Global
Youtube: published on 4 nov. 2014 – The city of Denton is considering a measure to become the first state in Texas to ban fracking. Although extracting natural gas by conducting hydraulic fracturing is a boon for many communities, there are suspected environmental and health consequences that many feel outweigh the positive economic effects.
[rt.com] – Fracking ban goes into effect in its birthplace
Youtube text: Recorded February 25th, 2014 in Vancouver, BC. Richard Heinberg speaks on his newest book, covering the short-term nature of the recent North American oil boom and the financial bubble that supports it. Heinberg covers the implications of the 2016-2017 peak in unconventional output by providing essential information for any community facing the false promises of companies planning to extract reality
Bad news for those peak oil deniers who had hoped for a bright future with endless supply of shale oil. US authorities downgraded by 96% the estimated amount of recoverable oil buried in California’s vast Monterey Shale deposits, deflating its potential as a national “black gold mine” of petroleum. The Monterey Shale formation contains about two-thirds of the nation’s shale oil reserves. So, not 13.7 billion barrels are recoverable but merely 600 million.
We repeat: Peak Oil 2018.
In 2007 William Engdahl, the historian of oil politics, surprisingly dismissed any idea of peak oil, and bought into the abiotic origin of oil and concluded that peak oil was a myth. He repeated this opinion only one year ago and attributes high oil prices not to scarcity (‘peak oil’) but speculation. With this background we are surprised that earlier this week Engdahl did dismiss the hype around shale gas in globalresearch. Like many others he stresses the toxic nature of the shale production process, but additionally he predicts that the shale gas story will be another bubble on the verge of popping. Engdahl shows that talk by president Obama of another 100 years of recoverable reserves is deceptive and that we should anticipate 11-23 years at current consumption rates at best.
Promised Land is a 2012 American drama film directed by Gus Van Sant and starring Matt Damon, Frances McDormand, Hal Holbrook, and John Krasinski. The screenplay is written by Damon and Krasinski based on a story by Dave Eggers. Promised Land follows two corporate salespeople who visit a rural town in an attempt to buy drilling rights from the local residents. Damon was originally attached to direct the film, but he was replaced by Van Sant. Filming took place mainly in Pittsburgh from early to mid-2012. During filming and afterward, the film’s highlighting of the resource extraction process hydraulic fracturing, colloquially known as “fracking”, emerged as a topic of debate. The film had a limited release in the United States on December 28, 2012 and will follow with a nationwide expansion on January 4, 2013. The film is scheduled to have its international premiere at the 63rd Berlin International Film Festival in February 2013.
Corporate salesperson Steve Butler and his sales partner Sue Thomason visit a rural town to buy drilling rights from local residents who seek relief after the recent economic decline. They encounter resistance from a schoolteacher, who is supported by a grassroots campaign organized by another man who seeks to rival Butler.
Interesting detail: the anti-fracking movie is financed by the government of the oil-rich United Arab Emirates.
Youtube text: by Scott Cannon Lecture; Dr. Anthony Ingraffea, The Facts On Fracking, March 23, 2011 by Kristian Boose .Cornell University professor Anthony Ingraffea spoke at Luzerne County Community College in Nanticoke, Pennsylvania late in 2010.
Ingraffea speaks from the viewpoint of scientific, technological and engineering fact.
This is an excellent overview of the drilling and fracking process from a very well respected professional in the educational field.
This lecture on unconventional natural gas drilling was hosted by The Gas Drilling Awareness Coalition.