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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (148324)	1/18/2015 2:58:39 PM
From: tejek	Read Replies (1) \| Respond to of 149319

Critics of the shale oil boom have compared oil production in the Bakken and other shale oil fields to Alice’s race with the Red Queen. The average new well produces fewer than 500 barrels of oil per day in the first month. By the end of the first year of production, output has typically fallen to slightly less than half of the initial flow rate. By the end of the second year, daily output from the average well declines to just over 15 percent of the initial flow rate. I never said pursuing oil is the ultimate solution. All I said is that the Saudi's short term gambit won't work in the long run. In terms of peak oil, its still the big elephant in the room.