I’ve been reading:
The Post Carbon Institute purchased proprietary drilling data from oil companies and crunched the numbers on the costs and benefits of fracking. Never mind the environmental problems;
1. Fracking is not profitable, and it’s getting funded with Ponzi money that will be lost.
2. The Energy Information Agency and the International Energy Agency and the US Department of Energy massively fudged the numbers to claim 24 years of natural gas and claims of “Saudi America” from fracked oil.
3. Drilling companies such as Chesapeake Energy are financially surviving by selling leases rather than by extracting, refining and selling energy.
4. The claim that the Monterey shale play is a huge reserve ignores the fact that earthquake prone Northern California is all messed up and very complicated, if impossible, to frack.
In other words, Peak Oil and catabolic collapse is still game on. By 2020, the fracking boom will be long over.
And as banned56 likes to point out, Peak Oil is a blessing because it will starve the parasites.