Peak Oil is when predicted future production peaks and starts to decline. The experts have been consistently wrong about it – and are again. As Yogi said:”It’s hard to make predictions. Especially about the future.” The USGS expert says past predictions have been wrong because it’s hard to predict “changes in technology — i.e., the […]
“If you’re an environmentalist, this is obviously a major bummer, and a signal failure of the Obama presidency.” Also a major bummer if you are Southern Company building a $7 billion power plant to run on a natural gas substitute. And a signal failure of its management.
Looks like Saudi Arabia and Kemper and were both standing in the wrong place when fracking came along.
“The US Energy Information Administration (EIA) expects gas prices to rise to $4.88 in real terms by 2020, and $7.85 by 2040.” (Kemper’s $21 fuel gas from lignite not looking too good.)
The frackers and Fracking are remaking the world, but thanks to Kemper and its proponents, Mississippi may be on the wrong side of this world-changing technology. By Holman W. Jenkins, Jr. | March 31, 2015 6:52 p.m. ET | www.wsj.com Photo Credit: An oil field over California’s Monterey Shale formation. Photo: David McNew/Getty Images If not for fracking, oil […]
The ‘accidental CEO’ Mark Papa says even he underestimated the shale revolution, which will continue despite lower prices…“If you want to point to a success of private enterprise, and how the capitalist system works for the benefit of the total U.S. economy,” he says, “I can’t come up with a more glowing example.” By JOSEPH RAGO […]
“The recent drop in oil prices won’t derail the shale drilling in southwest Mississippi or Texas or Pennsylvania or North Dakota. Driven by advances in technology and on the job learning and adapting, there are more upside surprises to come in the shale revolution.” By Mark P. Mills | www.wsj.com | Oct. 23, 2014 7:21 p.m. […]
The Tuscaloosa Marine Shale formation lies 10,000 – 15,000 feet below the surface of the south west corner of Mississippi and extends west and south into to Louisiana. It contains billions of barrels of crude oil. Its existence has been known for decades… If successful, they will have a big economic impact on the entire […]
“As an economist, I can only say,‘’Wow. Holy Cow,’” said Loren Scott, a Louisiana economist who has studied the state for 40 years. “We typically measured expansion in terms of hundreds of millions of dollars. Something like that makes your eyes bug out.” He expects, for instance, that once 10-year tax-abatement deals expire, schools boards […]
What’s one changeless characteristic of the economy? It keeps changing.Take the natural gas boom and discovery of increased domestic oil and natural gas reserves thanks to the innovation of fracking. In general, this is a positive change in that it lowers the cost of energy, decreases dependence on foreign oil, and creates cleaner fuel emissions. […]