When we see records being broken and unprecedented events such as this, the onus is on those who deny any connection to climate change to prove their case. Global warming has fundamentally altered the background conditions that give rise to all weather. In the strictest sense, all weather is now connected to climate change. Kevin Trenberth
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Shale oil Ponzi scheme: Harvard study confirms shale is a fracking treadmill
by TXsharon, texassharon.com, June 27, 2013
Harvard has
released a new study with a hyped up headline about America becoming a
No. 1 oil producer due to fracking. But, in order to get that number one
designation, they will need to drill 100,000 more wells in North
Dakota and Texas because “Shale oil wells reach peak output almost immediately but quickly decline, so new wells are constantly needed.”
He noted that the Bakken-Three Forks region in North
Dakota required 90 new wells per month to maintain production of 770,000
barrels per day
Now where have I heard that before? tap, tap, tap…thinking…
Leonardo Maugeri, a former oil industry executive
from Italy” is the author of the report. He also said only the U.S. is
capable of drilling with this “intensity.” And because this type of
drilling is so intense they shouldn’t do it in populated areas.
Maugeri said this drilling intensity required for shale
oil will limit production in densely populated areas, especially in
Europe.
The report: Leonardo Maugeri. “The Shale Oil Boom: A U.S. Phenomenon”
Discussion Paper 2013-05, Belfer Center for Science and International
Affairs, Harvard Kennedy School, June 2013.
P.S. Let me quote this from the media advisory because I love the wording:
Sustained Shale Oil Production Requires Dramatic Drilling Intensity:
No other country in the world has ever experienced even a fraction of
the overall U.S. drilling intensity for oil and gas. Shale oil wells
exhibit their peak production rates during the first weeks of operation
then dramatically decline. Oil companies intensively drill for new wells
that offset the loss of production from older wells.
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