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Arthur Berman: Why Today's Shale Era Is The Retirement Party For Oil Production.

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Video: Arthur Berman: Why Today's Shale Era Is The Retirement Party For Oil Production.

"As we've written about often here at PeakProsperity.com, much of what's been 'sold' to us about the US shale oil revolution is massively over-hyped. The amount of commercially-recoverable shale oil is much less than touted, returns much less net energy than the petroleum our economy was built around, and is extremely unprofitable to extract for most drillers at today's lower oil price.

To separate the hype from reality, our podcast guest is Arthur Berman, a geological consultant with 34 years of experience in petroleum exploration and production.

Berman sees the recent US oil production boost from shale drilling as and short-lived and somewhat desperate; a kind of last hurrah before the lights get turned out."

Will we use this opportunity of the low oil prices to embrace the change and move to the 21st century technology now?

 

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Disclosure: The author is long ILHMF, TRRXF.