22 Jun '13, 2pm
Drumbeat: June 22, 2013
Posted by Leanan on June 22, 2013 - 11:20am Shale gas won't stop peak oil, but could create an economic crisis Two years ago, following the publication of the EIA April 2011 report a New York Times investigation obtained internal EIA communications showing how senior officials, including industry consultants and federal energy experts privately voiced scepticism about shale gas prospects. One internal EIA document said oil companies had exaggerated "the appearance of shale gas well profitability" by highlighting performance only from the best wells, and using overly optimistic models for productivity projections over decades. The NYT reported that the EIA often "relies on research from outside consultants with ties to the industry." The latest EIA shale gas estimates, contracted to ARI, is no exception. ARI, according to the NYT's 2011 article, has "major clients in the oi...