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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (57299)	2/20/2018 12:17:05 PM
From: stuffbug	Read Replies (1) \| Respond to of 60926

peak oil theory was correct as it was only intended to apply to conventional reservoir technology (vertical wells). Shale deposits were known in '70s but were considered to be completely uneconomic. And it wasn't that FAST - fraccing was introduced in the '70s and horizontal drilling has been around for about 20 years. As for shale oil, the only winners have been the consumers. Oil companies have lost hundreds of millions, probably billions. Even now, with WTI priced in the low 60s, U.S. oil companies make very little profit on their shale deposits. With steep decline curves, individual well profitability is heavily dependent upon the short term oil price (i.e. during the 1st year of production). The U.S. had no problems ramping up sand production exponentially. You think the global production of lithium will scale in the same manner? rotflmao