Democrats Trot Out 'Peak Oil' Again, and Are Just as Wrong as Ever

Just when we thought it was safe to assume a reliable supply of oil due to the miracle of fracking, liberals have come up with a new excuse to shift from fossil fuels to renewables.  They've discovered — as everyone invested in oil has known since before the early 2000s — that fracked wells are frontloaded, producing their largest return in the first year or two after completion. The most productive fields at present are in the Permian Basin of West Texas.  So it's not surprising to find analysts bemoaning "peak Permian," as Julian Lee wrote in a Jan. 26 Bloomberg opinion piece.  The reality is that oil and gas production from the Permian Basin is at or near an all-time high and that any pull-back in the near future may be the result of low energy prices, which have discouraged new well starts. But what happens if production eventually does fall off, as it will, from recent levels in the Permian?  U.S....(Read Full Article)
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