The dramatic production resurgence of two countries that peaked over 30 years ago is ironically changing perception of peak oil today. US shale oil is an indispensable prop keeping us from high oil prices. There is close agreement among the minds that should know on the longevity of the US shale oil revolution. Oil Is Oil A big problem with energy thinking today is the notion that “oil is oil” and it doesn’t matter where it came from. Wrong! A major criticism you see of Hubbert is when they point to all the “oil” we’ve found (shale oil, tar sand, kindling wood) and throw it in the URR pot (Ultimate Recoverable Resource) and generate a production curve. This is not Hubbert’s method at all, and when you see them doing this, you can ignore the whole analysis. It totally misses the vastly different set of recovery physics between conventional […]