One of the biggest “Fake News” promoters in the USA is our government’s own Energy Information Agency. In this article linked, the Post-Carbon Institute and Resilience-dot-org take down the EIA story on how great the prospects are for fracked oil and fracked natural gas especially.
The answer: Not great.
“The EIA drilling rates in AEO2015 require a little over one million wells to be drilled …between 2015 and 2040. At an average cost of $6 million each that represents an investment of $6 trillion.”
how is an industry that’s damn-near bankrupt on the whole, think about borrowing that much more money? Makes no sense. Read on. Huge implications for our Wisconsin frac-sand region. Earth Scientest David Hughes
Download full report here ShaleGas Reality Check
