Monday, September 26, 2016

Peak Oil is Coming Back...

Right now there is more oil being extracted than ever. Of course, it cannot last. The Bakken and Eagle Ford Shale Oil Fields are declining in production now. Obviously, Peak Oil is over for them and the oil companies that exploit them.

I found this on The Automatic Earth last week --

The Death of the Bakken Field Has Begun: [That] Means Big Trouble For The U.S.

SRSrocco Report 12 September 2016 Link.
The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance. Just a few years ago, the U.S. Energy Industry and Mainstream media were gloating that the United States was on its way to “Energy Independence.” Unfortunately for most Americans, they believed the hype and are now back to driving BIG SUV’s and trucks that get lousy fuel mileage. And why not? Americans now think the price of gasoline will continue to decline because the U.S. oil industry is able to produce its “supposed” massive shale oil reserves for a fraction of the cost, due to the new wonders of technological improvement. [..] they have no clue that the Great Bakken Oil Field is now down a stunning 25% from its peak just a little more than a year and half ago:
Source: SRSrocco Report.
This [is[ true for the Eagle Ford Field in Texas. According to the most recent EIA Drilling Productivity Report, the Eagle Ford Shale Oil Field in Texas will be producing an estimated 1,026,000 barrels of oil per day in September, down from a peak of 1,708,000 barrels per day in May 2015. Thus, Eagle Ford oil production is slated to be down a stunning 40% since its peak last year.
Source: SRSrocco Report.
As I have been documenting in previous articles (going back until 2013) the U.S. Shale Oil Industry was a house-of-cards. Readers who have been following my work, based on intelligent work of others, understood that Shale Oil is just another Ponzi Scheme in a long list of Ponzi Schemes. 
While Donald Trump is receiving more support from Americans in his Presidential race, his campaign motto that he will “Make American Strong Again”, will never happen. The America we once knew is over. There just isn’t the available High EROI – Energy Returned On Investment energy supplies to allow us to continue the same lifestyle we enjoyed in the past. So, now we have to transition to a different more local or regional way of living.
For more information click here.

The END of the American Way of Life is non-negotiable. Sorry, Dick Cheney.

Pace deorum.

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