Part I of this post shows my calculations of ultimate gas recovery from the Barnett, Fayetteville, Haynesville and Marcellus shales. They might deliver 6-7 years of natural gas consumption in the U.S. in 2015, or might deliver only 3 years worth of U.S. gas consumption. In Part II, I will show my calculations of ultimate recovery of oil and gas in the Eagle Ford and Bakken shales that ultimately might deliver 6-12 months of additional gas consumption. I will also discuss the physical reasons for the negative impact oil production from these two shales has had on global oil prices. As Asjylyn Loder and others at Bloomberg have noted , another 19 billion dollars of debt of shale oil and gas producers is going into default as of the second week of March, 2016: Since the start of 2015, 48 oil and gas producers have gone bankrupt owing more than $17 billion, according to law firm Haynes and Boone. Fitch Ratings Ltd. predicts $70 billion of energy, metal and mining defa...
In this blog, I continue to write about the environment, ecology, energy, complexity, and humans. Of particular interest to me are human self-delusions and mad stampedes to nowhere.