I interviewed two energy experts last week who expressed completely opposite views about the world’s future oil supply. Dr. Frackenstein, a pseudonym for a 25 year seasoned petroleum engineer. He’s drilled thousands of producing wells around the world, and is currently a regular visitor to North Dakota and the Bakken Shale. He claims that there’s plenty of oil out there waiting to be found, much of it in oil fields that were previously considered fully depleted. Robert Hirsch has been involved in the energy field even longer than Dr. Frack and is much more negative about future energy prospects. He believes that shale oil is expensive to drill for and the resulting wells have much shorter lifespans. This is all due to the nature of shale’s porosity, which makes it much harder to produce shale oil than it is to produce shale gas.
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