Crude oil and natural gas production from U.S. shale formations has skyrocketed in recent years, but the fields' rapid decline means a reversal is just around the corner, according to a Tuesday report by the Post Carbon Institute. Author David Hughes, in an online presentation of his findings, cited U.S. Energy Information Administration data that predicts U.S. crude oil output will peak in 2019 at 7.5 million barrels a day. He also says "the basic economic viability of many shale gas plays is questionable in the current price environment." A link to his report is here.
Also making a presentation online with Hughes was Fort Worth resident Deborah Rogers, who said investment bankers have taken advantage of the rush into shale to gin up fees on acquisitions and divestitures as natural gas prices ran up and then down. A link to her report is here.
-- Jim Fuquay
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