The Coming Bust of the Great Bakken Oil Field : SRSrocco Report The 1849 California gold rush ended in ≈ 3 decades. Peak gold field. The middle east oil fields have a life expectancy that necessarily means we have to look elsewhere, and so we did because of technology. Enter the Montana/Canada/Dakota Bakkens. It's advertised as an endless supply of energy. Happy days are here again. Not really? Every land barge owner I know just loves to throw our "increasing energy supply" in my face. One of the comments to the above article puts it simply: I guess the primary reason for this post is because with the rise in Solar (and wind) Production/power - it raises the collateral energy issue of natural gas. Many legacy generators (coal) will become natural gas electricity users. But if the Bakkens peak in ≈ 5yrs - and that seems VERY likely .... than what. I guess conservation / wind / PV is plan B. As I mentioned in my other recent post PV/Wind is on the increase, and can continue. But natural gas? .
Just wait. After hydraulic fracturing comes nuclear fracturing, so your 5 years is more likely to be extended to 10 years. That's like forever in the political world.
lol. about 30 years not 5 of good oil, with a peak coming in 7, but there is other tech that may get 10x as much oil, but at a higher price Technological limits could stifle Bakken oil potential | Midwest Energy News That is for currently used tech, but other tech will likely hit before 2025 if oil prices rise
I am thinking nuclear fracking may have been tried once in the 1950's or so (did not work well). RealClearEnergy | Government Tried "Nuclear Fracking" in 1970s
FWIW here is the way I think about it. There probably is a good future supply of natural gas. What holds back natural gas use is the technical difficulties and cost dealing/transporting gaseous fuels (vs. liquids) and super-cooled liquid natural gas LNG is even harder to work with. We also have the option to import LNG.
The long term untold story of fracking is the water issue. Not just he potential water pollution issue, but the vast quantity of water required to do it. Much fracking takes place in areas where water is already scarce. Then the question becomes,are we willing to give up precious water for precious oil? ( and gas) Hint, there are alternatives to oil (and gas) there are few alternatives to clean, fresh water. Sounds like a Hobson's choice to me. Icarus
