Tag archive for shale oil production

Via Brad Plumer comes a Citigroup research note arguing that the Peak Oil thesis is dying right now in North Dakota where shale oil production is surging.

I’m not sure I buy that, but it’s unambiguously true that the short-term supply situation now looks different than what we’ve come to expect in recent years. Recall that for a while we had the OPEC paradigm under which Saudi Arabia had oil that was cheap to extract but that it would hold off the market in order to boost the price.
(more…)