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Re: Massive Oil Deposit could Increase US reserves by 10x
Quote:
Originally Posted by TSGracchus
Read the fine print, folks. It's shale oil. It's not a new discovery, it's just that until the price of oil soared through the roof, it couldn't be extracted at a profit. Now it can. So what?
The problem is not that we're running out of oil, but that we're running out of cheap oil. Approximately 50% of the oil that was in the ground when we started pumping it is still there (that's what "oil peak" means -- not that all the oil is gone, but that half of it is, and what's left is harder and more expensive to pump). But what made oil such a wonderful energy source for so many years is that it was both plentiful and cheap, and it ain't no more.
Not a solution. We need to increase efficiency, and switch to non-fossil-fuel sources of energy. The time to start doing that was 30 years ago, but since we can't turn the clock back, we need to start now.
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I cannot find anything that describes the oil as "shale oil". The area that the oil is at has shale rock but not all shale is "shale oil".
The article specifically mentions pumping oil. this is something you cannot do with shale oil. "Shale oil" must be mined as far as I know. I could be wrong.
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