Why We Can’t Frack Ourselves Out of an Energy Crisis

Degasified coal? Bitumen? Will we have to turn to these at the cost of global warming?

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kenneal - lagger
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Why We Can’t Frack Ourselves Out of an Energy Crisis

Post by kenneal - lagger »

This article, "Why We Can’t Frack Ourselves Out of an Energy Crisis" is quite interesting and contains this prize statement:-
One 2008 study, by the German Army, says: “Psychological barriers cause indisputable facts to be blanked out and lead to almost instinctively refusing to look into this difficult subject in detail. Peak oil, however, is unavoidable.”
They must have had dealings with Ralph/RGR as well.
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Post by emordnilap »

Leggett will be dismissed because of his commercial interests.










:lol:
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Post by biffvernon »

Maybe it's a pity the article describes him as "a former Greenpeace staff member" rather than a former Shell petroleum geologist or even a former Royal School of Mines staff member.
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Post by RenewableCandy »

Graduate of Imperial College and all, which is hardly a softie centre of permaculture and treehuggery :)
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Post by RenewableCandy »

Oooh! Oooh! Petition to sack Peter Lilley from Energy Cttee over conflict of interest and porkiepies on C4 News...
https://you.38degrees.org.uk/petitions/ ... 1390924580
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kenneal - lagger
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Post by kenneal - lagger »

Here's an explanation of why Wall Street is continuing to finance the loss making fracking industry in the US flagged up by Mobbsey on Facebook.

Another "sub prime" lending crisis in the offing!
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BritDownUnder
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Post by BritDownUnder »

I am not an expert in shale gas (or anything else for that matter) but assuming that shale gas (and especially oil) is not profitable I would guess that the US Government is offering a lot of tax concessions to players in this industry.

There is also probably some kind of financial and geopolitical calculation running on the lines of the following. I be wearing a big Texas sized neo-conservative hat for this so be warned.

- shale oil/gas is produced using American resources and contributes to jobs and business in America whereas the alternative of importing from 'people that don't like us' does not on nearly the same scale and furthermore quite possibly helps to strengthen our (America's) enemies.

- producing shale oil/gas in general depresses the oil price and thus weakens said enemies.

- the opportunity loss of a barrel of shale oil could very well be less than the opportunity loss of importing a barrel of non-shale oil from those nasty overseas people, i.e we lose money in either option but the shale oil loss is lower once geopolitical concerns are taken into consideration.

At one point the US economy had a $300 billion deficit in hydrocarbon exports.

Note that there is another kind of shale oil and I am not talking about this one. I am actually talking about 'tight oil'.
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Post by kenneal - lagger »

According to the blog Wall Street banks make loadsa money on the brokerage fees on the loans and if they do have a problem with a lack of repayments they can expect the people to bale them out at no cost to the banks as has happened last time the banks cocked things up.
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BritDownUnder
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Post by BritDownUnder »

kenneal - lagger wrote:According to the blog Wall Street banks make loadsa money on the brokerage fees on the loans and if they do have a problem with a lack of repayments they can expect the people to bale them out at no cost to the banks as has happened last time the banks cocked things up.
Yes I think this is called privatizing your profits and socializing your losses. I don't think Wall Street making fee income on a new industry is limited to just energy. Don't discount the geopolitical factor though. The effect of this shale boom on the oil price has been quite stark. Even is the US reduced its trade deficit in oil but $100bn a year over five years it has outweighed all of its losses in the entire shale oil sector. You could not say that the US military makes a profit either but they do stop enemies destroying the US.
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Post by kenneal - lagger »

The US military doesn't stop tens of thousands of US citizens being shot every year by...US citizens!!!
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