energy economics
Does Keystone Matter?
A recent analysis suggests that the pipeline could result in production of a billion extra barrels between now and 2030.
Many people who have studied the issue tell me that the Keystone XL issue is mostly symbolic, because the Alberta oil sands are going to be used one way or another. But I’m having some second thoughts because of arguments made (here) by Berkeley economist Max Aufhammer. He’s a pretty hard-headed analyst, not given to …
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CONTINUE READINGCasting a Shadow on the Future of Shale Gas
Current projections for shale oil and gas are huge. But are they realistic? An article in the February 21 issue of Nature suggests that these projections may be too optimistic: Wells decline rapidly within a few years. Those in the top five US plays typically produced 80–95% less gas after three years. In my view, the …
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