Wednesday, September 03, 2008

Shale oil - are we ready for it?

After the recent oil price rises, is shale oil now economically viable, or not?

2 comments:

Tim H said...

Don't know about shale oil, but with Natural Gas futures back to the average over the last five years and half of what there were a few months ago why are the energy companies still going ahead with the price rises?

Tim Norfolk said...

Shale oil is economically feasible, and has been for years. The problem is that the oil companies pressured Congress to shut down the pilot programs in about 1984. The people who did the real work are now retired and dying. If we don't act fast, it will take 20 years to get up to speed.