[Peakoil] Dream of U.S. Oil Independence Slams Against Shale Costs - Bloomberg

[Antony Broughton Barry]

"Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back. Shale output drops faster than production from conventional methods. It will take 2,500 new wells a year just to sustain output of 1 million barrels a day in North Dakota’s Bakken shale, according to the Paris-based International Energy Agency. Iraq could do the same with 60."

http://www.bloomberg.com/news/2014-02-27/dream-of-u-s-oil-independence-slams-against-shale-costs.html


Antony Barry Mob:+61 4 3365 2400