Those of us who used to visit places like The Oil Drum have long known the reality of fracking for oil.
Yes, it does increase total well production somewhat. But what it really does is increase flowrate from a well, making it look like one's hit a liquid gold mine.
Then, reality hits.
With the Bakken, it's hitting hard. Wells there have less total oil production, a higher gas-oil ratio, and a higher water cut. One of the three alone would be not good. All three together are very not good.
There's a lot more about that, in detail, at that link.
The United States is NOT about to become a new Saudi Arabia of oil and the idea of Peak Oil has not been refuted. That's even with the "Permania" about the Permian Basin that Daniel Yergin cited earlier this week at CERA Week.
Speaking of, part of why Prince Salman wants to create an IPO for Saudi Aramco is surely to build even more solar panels, as is starting to happen.
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