Friday, 23 May 2014

US shale oil miracle disappears, Monterey deposits downgraded by 96%

Yes, that's right only 4% of previously claimed resources actually recoverable 'at today's prices'. And surely that is the central point - just how much of the oil and gas resources forecast by industry pundits that governments gloat over are actually achievable in densely populated areas ( like the UK ) or due to non- accessible depths ( much of the UK )?

Hype gets share prices up every time so never mind reality eh.

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