Filed under: Uncategorized | Tags: cost of extraction, energy, Kurt Cobb, Natural gas, oil production, peak oil
Here and there on occasion. Kurt Cobb in the CSM:
Currently, there appears to be no new transformative on-the-shelf technology that will significantly reduce the cost of extracting oil and natural gas. And so, barring a deep economic depression, we can look forward to prices for oil and natural gas that are consistently above the cost of production and therefore far above the bizarrely low forecasts in the air today. In fact, we should expect costs to continue to escalate as we seek out resources that are ever more difficult to extract and refine.