Saturday, March 16, 2013

Production decline rates for tight oil are 10 times the global average

Depletion: The one word oil optimists refuse to utter  |  Peak Oil News and Message Boards: " That means that drillers in those plays must replace 38 to 42 percent of their current production EACH YEAR before they can increase production. It’s a ferociously high decline rate, some 10 times the average worldwide. And, this is the oil that the optimists tell us is going to raise global production!"

'via Blog this'

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