We would do well to pause, and ponder both the data and implications presented in the Post Carbon Institute’s latest report , released a few days before Halloween, “Drilling Deeper: A Reality Check On U.S. Government Forecasts for a Lasting Tight Oil & Shale Gas Boom” . The PCI’s new report exposes current oil industry & Energy Department oil production forecasts as wildly exaggerated. Further, it makes a compelling case that production of “U.S. shale gas and tight oil reserves will peak and drop off swiftly, long before officially predicted by the U.S. Energy Information Administration.” The report was written by PCI Fellow and geoscientist David Hughes, who previously predicted the vast downgrade of available oil resources in California’s Monterey Shale. According to PCI Executive Director Asher Miller, “based on our analysis, the reality is far different from what the industry is telling the Energy Department, and […]