First to remind you that YouTube states via Wikipedia, "
This is a great discussion. I am pretty amazed by what the Norwegian profesor talks about US oil production of shale oil as a "miracle," that made the United States Oil
independent once again.
The production of shale oil did not make the US oil independent obviously, with continuous wars and attempts of government coups, this did not make the US oil independent. Also, there is so much controversy over the production of shale oil and its impact upon the environment. So, the industry, has been faced with lawsuits and many protests.
Oil shale can be extracted via surface, underground, or "in-situ" mining, in which kerogen is heated underground and pumped to the surface. All these techniques demand significantly more energy than what's required for conventional liquid oil, producing more air and global warming pollution as a result.
Water pollution is another concern, as spills, leaks, and runoff from mining operations may interfere with groundwater supplies. And when extracted oil is shipped to refineries for processing, the trucks, trains, and pipelines that transport it introduce their own environmental impacts. https://www.ucsusa.org/resources/what-oil-shale
"Just 10% Of Shale Oil Companies Are Cash Flow Positive"
"With negative cash flows, shale companies have historically relied on bond markets to finance their operations. Without additional funding and any debt refinancing, capex would have to be cut." https://www.hellenicshippingnews.com/just-10-of-shale-oil-companies-are-cash-flow-positive/
But, Peter and Dmitry put into perspective, the reality of not just shale oil production, but oil overall and the hegemony that goes hand in hand with oil. Through what I have stated many times on my blog, through war, governmental take overs or attempts, strangulating sanctions over oil rich countries who choose not to play by US and Western hegemonic games that reek havoc and devastation, including the implantation of biological warfare through the Covid-19.
The only solution to the end of an oil dominated world is one, the end of the United States and its allies in is continuos attempts to control the world's oil and two, for all major countries to begin the shift of oil dependency to energy sources that are earth and world friendly, and that are completely possible to create, harness, and achieve. The world needs to be ready for this and hopefully, this collapse and the impacts of the Covid-19 that were leashed will begin to shift the world from oil to clean energy and a better world for All.
Sending all the world peace, health, and hope during this time of crisis for all,
Maria Joan Juarez Hidalgo Beam (Boheme)
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