Underestimation or outright denial? Shale ‘euphoria’ deemed ‘pointless’ by some in the Gulf

Underestimation or outright denial? Shale ‘euphoria’ deemed ‘pointless’ by some in the Gulf
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Bakken is ephemeral in the scheme of things when you actually look at the math. In 2013 the USGS estimated total RECOVERABLE Bakken reserves at 7.4 billion barrels, which is only a year of total U.S. consumption (at 20 million barrels per day). Why do people hype such a relatively small amount of oil? Texas tight oil (e.g. Eagle Ford) isn't much different than North Dakota's reserves.

Also, people keep confusing kerogen for fracked (liquid) oil from tight "shale oil" formations. Kerogen "oil shale" is entirely different because you must cook the shale at 932 degrees F. to get actual oil from it. Kerogen is hyped as containing "trillions of barrels" of oil but may never prove commercially viable due to low ERoEI.

The math is available for anyone who wants to do it.

Jim C. (not verified) Tue, 12/02/2014 - 03:26

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