[Peakoil] Kunstler this week on the economics of fracking

[Walter Steensby]

Chris Martenson on his Peak Prosperity website has also analysed Mauldin's analysis and finds it simply wrong. Most of what Martenson writes is for paid-up subscribers, but I can pass on a little in my own words.

Mauldin confuses the gain in output per rig, not per well. Shale oil wells are increasingly being operated in a manner which damages them and makes them likely useless in the future when the price of oil rises again. Oil fetches $42/bbl today and the entire shale oil industry was NOT profitable at $100/bbl.

"In the meantime, I think Mr. Mauldin owes our friend Jim Kunstler an apology."

http://www.peakprosperity.com/insider/93987/mauldin-makes-very-basic-error-shale-oil

I suggest you subscribe to Peak Prosperity. It's well worth the modest cost.

Regards,
Walter




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