Shale Gas Exploration: The Coming Storm
06 July 2010
Jay Kimball, 8020 Vision
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Transitioning from Fossil Fuels to Renewable Clean Energy
Gas/Oil production is peaking.
The easy oil and gas has been consumed.
What remains will increasingly be harder to get to and more complicated to extract.
Witness the BP Deepwater Horizon debacle in the Gulf.
The business of oil/gas extraction will get increasingly messy and rife with political and legal risk.
In 1950 we could produce 100 barrels of oil using the energy of 1 barrel of oil. So the Energy Returned on Energy Invested (ERoEI) was about 100:1. Today that ratio has fallen below 10:1. Similar low ERoEI can be found for other fossil fuels. The chart below shows the ERoEI for various forms of energy. The highest ROI is in wind and solar. This is where we are seeing double-digit growth.
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