There’s been a lot of talk about how amazing and abundant Shale Oil is. Would you believe that almost all of that is complete spin? Media hype?
You’ve heard the saying, don’t drink the Kool-Aid?
Right. They are lying to you.
First of all, Shale Oil is VERY expensive to extract from the ground. We’ve known about the Shale Oil fields in the US for a long, long time – decades, in fact. Did you notice when they started drilling in the Bakken Oil Reserve?
Right. When Oil was above $100/barrel.
And, with all that Shale Oil hitting the market, did you notice the price of oil going down?
Right. It’s doing the opposite. It’s forecast to go up to $120/barrel, next year.
Does that sound like Shale Oil is such a marvelous deal?
No. It sounds like Kool-Aid. And, that Koo-Aid has cyanide in it.
Furthermore, oil is not the only vital resource that is in rapid decline. Most (if not all) of the resources vital to our economy have reached their production peaks. Add to that a financial system on the verge of collapse, a thoroughly corrupt super power, and climate instability.
That is a recipe for complete and utter disaster.
When this disaster rolls down on us, it will usher in a period of time worse than any other in the history of mankind. And, we are not completely certain when it will start. Do not let this uncertainty convince you that disaster may never come. It is coming.
God has given you this moment in time as a gift to prepare for what is coming. Do not squander it.
Don’t drink the Shale Oil Kool-Aid.
Brace for Impact.
The following article by Chris Martenson will help you understand the Shale Oil Kool-Aid.
There isn’t going to be enough net energy
by Chris Martenson
Tuesday, January 15, 2013, 9:54 PM[Many longtime followers of the Crash Course have asked Chris to update his forecasts for Peak Oil in light of the production increases in shale oil and gas over recent years. What started out as a modest effort at clarification morphed into a much more massive 3-report treatise as Chris sifted through mountains of new data that ultimately left him more convinced than ever we are facing a global net energy crisis – despite misguided media efforts intended to convince us otherwise. His reports are being released in series over the next several weeks; the first installment is below.]
There has been a very strong and concerted public-relations effort to spin the recent shale energy plays of the U.S. as complete game-changers for the world energy outlook. These efforts do not square up well with the data and are creating a vast misperception about the current risks and future opportunities among the general populace and energy organizations alike. The world remains quite hopelessly addicted to petroleum, and the future will be shaped by scarcity – not abundance, as some have claimed.
This series of reports will assemble the relevant data into a simple and easy-to-understand story that has the appropriate context to provide a meaningful place to begin a conversation and make decisions.
Since completing the Crash Course in October of 2008, much has gone as I anticipated in the way of money printing, official neglect of the main predicaments we face, and generally higher petroleum costs (2012 was the record so far on a yearly basis).
What has not changed is the general trajectory of liquid fuels becoming increasingly expensive and more difficult to produce. I know that this runs counter to virtually every news article that has come out recently. It is time to separate the data and facts from the hype. Much has recently been either muddied or presented so far out of context as to be more distortive than helpful.
Read the rest of Chris Martenson’s article, here: