Off the microphones of J. David Hughes, Monsta & RE
Aired on the Doomstead Diner on December 1, 2014
Discuss this Interview at the Podcast Table inside the Diner
Drilling Deeper: A Reality Check on U.S. Government Forecasts for a Lasting Tight Oil & Shale Gas Boom
About a month ago, we had an opportunity to interview J. David Hughes, author of the recent report Drilling Deeper for the Post Carbon Institute. The report takes a detailed look at the fracking plays being made around the country which the MSM and Oil Industry shills have claimed will develop energy Independence for the FSoA. We held onto the podcast until December 1st, at the request of the PCI media department.
In the intervening time since we recorded the broadcast, the price of Oil has further dropped from the $80 or so it was then, now down to around $69 in the last price quote I saw for WTI Crude. This price is now down so low it is below the “Best Estimate” and is a worst case scenario for the drillers. Oil Rigs are already being shut in in the Bakken, and the longer the low prices are maintained, the more will go down.
From the Texas Star-Telegram:
Falling oil prices could cause pullback in Texas production
Posted Friday, Nov. 28, 2014
In our interview, David also highlights the CapEx problems with natural gas, and the reason building expensive pipelines and export terminals doesn’t make economic sense given the rapid depletion of these fields, even in the “sweet spots”.
For the rest, listen to the Interview, and read the report if you have a lot of time on your hands.