ROCKMAN wrote:Foreign shale trends will never produce a meaningful amount of oil: only COMMERCIAL foreign shale trends could do that. And despite hundreds of $millions being spent looking for them when oil prices were high none were found.
Fortunate indeed that yesterday's shale trends in the US became those commercial shale trends of today. Remember the Eastern regional gas shales project of DOE and USGS, back in the early 80's Rock? Ah yes, when the shales were young, and so were we, right?
http://www.netl.doe.gov/kmd/cds/disk7/d ... Report.pdfThe USGS work in this regard actually quantified the resource, more than 1000 TCF they said! I recommend Chapter N.
http://pubs.usgs.gov/bul/1909/report.pdfAll that trend and no commercial volumes to be found!
..and then one day.....REVOLUTION!
I find it difficult to never say never about international shales, if only because the story of US shales is exactly the same as what folks are claiming about the international shales. And what might be needed to make this wonder of wonders happen again? Well, that is where the POD comes in, right? Oil or gas, doesn't matter, POD is what makes things happen...just like it happened in Pennsylvania. Or North Dakota. Or Texas. And might next in...the Bazhenov? The Vaca Muerta in the Neuquen? Come on Rock, while Americans in general might have achieved our lofty status on this planet by the exceptional nature of our character and resolve, our source rocks aren't the best thing since sliced bread, and if the only thing holding back the others is a little coin? Well, suddenly, the only question left is...how much coin, for the next revolution to explode in rising waves of oil and natural gas...just like we did here in the US?
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"