Marcellus (PA) – update through August 2017 – Visualizing US shale oil & gas production

Marcellus (PA) – update through August 2017 – Visualizing US shale oil & gas production

Mike Shellmansays:

2017-12-05 at 11:48

OK, Enno. My ‘contrasting’ view as an American, an oil and natural gas producer, as someone that understands decline rates and well economics, is that “promoting” unconventional resource abundance encourages its use and creates a false sense of security in my country. It is the wrong message. And a dangerous one. The message should be one of moderation, of fiscal responsibility for the sake of price stability, employment stability, a healthy oil and gas industry and encouragement of conservation of our remaining resources.

There is nothing that I see in your realized production data presentations, I repeat… nothing, that even remotely suggests America is on its way to hydrocarbon independence. The debate here on your blog, I would hope, would not be one of talking up E&P stocks but one of concern for our long term future. My industry, even little ‘ol me, has a fiduciary responsibility to tell the truth about that future, to remind folks that the easy stuff is long gone, and the hard stuff, like shale oil and shale gas, is going to come at an enormous cost to society. Statistically American’s have very little in their savings accounts, are not prepared for retirement, and pretty much live hand to mouth. It will be a great tragedy for us to not have “saved’ any hydrocarbons for our children.

Thanks.
Mike