22 Mar '12, 11am

Gas fracking by the numbers. Turns out it doesn't yield much. #shocker

Gas fracking by the numbers. Turns out it doesn't yield much. #shocker

There is a lot of talk recently that "tight oil" as found in North Dakota's Bakken and other shales in the Southwest will save America from stagnant global oil production and increasing gasoline prices. The current glut of natural gas which has brought prices to a 10-year low has forced companies drilling for gas to curtail their activity and move the crews and rigs to North Dakota and Texas where money can still be made in drilling for shale oil. New well completions in North Dakota are expected to surge again this year. A recent pronouncement by a noted analyst says that America's "tight oil" (shale oil) production could reach 3 million barrels a day (b/d) by 2020 which will again put us among the top few global oil producers. On digging a little deeper into the issue, however, many have a problem with all the optimism. In January 2012, oil production in North Dakota hit...

Full article: http://www.postcarbon.org/article/765827-the-peak-oil-cri...

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