Hughes Drill Baby Drill research in The Atlantic
May 7, 2013
Post Carbon Fellow David Hughes’ research on shale oil and gas published in PCI’s report Drill Baby Drill? was referenced in this article at The Atlantic.
From the article:
There are serious worries about unconventional gas and oil, especially those concerning the environment. But the people cited by Nelder have not researched them, with the sole exception of J. David Hughes of the Post-Carbon Institute, whose "Drill, Baby, Drill" report Nelder says, incorrectly, that I "deride." On the contrary, Hughes’s report is a serious piece of work which raises what I believe to be legitimate questions, many of them about the shaky finances of the shale-oil and -gas industry.
I did not treat Hughes’s report at length because fracking was only a secondary topic in my article. In my view, for what it’s worth, the problems caused by the helter-skelter finances of the shale-gas industry are likely to be washed out by the sheer volume of accessible shale gas and oil. On April 30, after my article came out, the U.S. Geological Survey issued new estimates of the "technically recoverable" gas and oil in the Bakken and Three Forks Formations in North Dakota, South Dakota and Montana. Roughly speaking, the government now estimates there is twice as much oil and three times as much gas as previously thought–hardly an argument for scarcity.