Ernie Montague

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  • Energy Firms Should Look to U.S. Shale - Barron's
    Shale oil is truly the energy of last resort. The difficulty of extraction is sky high, and the environmental degradation is mindless and huge. At some point will people stop, look at the planet, and ask: "How much of the skin of the planet can we destroy before it no longer supports life?"
    Aug 31 11:25 am |Rating: 0 0 |Link to Comment |View article
  • 1,238 Billion Barrels of Oil Reserves: Is This an Oil Price Bubble?
    As often is the case, Phd is the abbreviation of "piled higher and deeper."

    Not a word about the most important things: The reserve numbers include Oil sands and shale, two hydrocarbons which are not only insanely expensive to turn into oil, but need so much water and energy that the end sum is a product that costs $40 a barrel and uses so much water that Canada barely has enough to produce the low levels of oil sands product they turn out today. The potential of oil sands is locked up in the need for water to produce and a place to put the millions of barrels of waste water. And sand.

    Further the SA figures are pure conjecture, water cut and injection at Ghrawar is at 40% - 50% and 7 million barrels a day. Hardly an indication of a healthy well.

    Drilling five miles into the sea is hardly a promising future. Is there more recoverable oil? For sure. Is it low hanging fruit? Well actually you will need a truck with a motorized extension ladder.
    Jun 12 08:59 am |Rating: 0 0 |Link to Comment |View article
  • BP and Shell in Merger Talks -- Times of London
    Wow. Let me say that again Wow. This makes a lot of sense and adds to both companies, both of which have taken a beating lately. Not the end big company mergers either.
    Jul 03 11:59 am |Rating: 0 0 |Link to Comment |View article

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