Hughes and Fridley in The Nation
August 5, 2015
Post Carbon Fellows David Hughes and David Fridley were both quoted in this article in The Nation on the US shale oil boom & bust and the rise of renewables.
From the article:
READ FULL ARTICLE
J. David Hughes, a geoscientist and fellow at the Post Carbon Institute, who spent 32 years with the Geological Survey of Canada, found that while short-term production of shale oil and gas is undoubtedly significant, the long-term view shows that the growth is not sustainable. His research reveals production peaking in both shale oil and gas in most of the significant plays in the United States by 2020…
This means that in order to maintain or increase production, you have to keep a frenetic pace of new drilling—what Lawrence Berkeley National Laboratory scientist David Fridley likened to being on an “accelerating treadmill.” The drilling frenzy that has characterized the shale boom caused a spike in production, contributing to a global glut, which has resulted in falling prices. It’s a vicious circle, and one that was hard to make economical even when crude was selling for $100 a barrel…