Hughes cited in Forbes on shale oil and gas
May 8, 2013
Post Carbon Fellows David Hughes research on shale oil production was cited in this op-ed at Forbes ‘Shale Oil And Gas: The Contrarian View’.
From the article:
There will surely be a boomlet in shale gas and oil, but my opinion, for what it is worth, is that the fracking boom is partly – perhaps largely – hype, and that a lot of the small investors now being solicited by various investment publications will lose their shirts. I think the head of the IEA has been quite irresponsible in attaching her institution’s good name to such a dubious proposition. To put it in quantitative terms, I accept David Hughes conclusion that the peak of shale oil will occur (circa 2020) but will be around only about one third of the IEA’s 10 million bbl/day estimate for natural gas liquids and a similar fraction of Citi-Group’s bloated estimate of about 4 million bbl/day for U.S. shale oil.