© Reuters / Paul Childs
Shale drilling does not produce as much oil and gas as the industry promised, raising questions about the productivity, profitability and, ultimately, the longevity of the fracking boom.
The Wall Street Journal published a damning investigation into the productivity of thousands of shale wells, finding that as time has passed, oil and gas production from shale wells has proved to be more disappointing than previously thought. The report adds more evidence to the conclusion that the
WSJ came to nearly a year ago, which raised serious questions about problems endemic to shale drilling.
After an initial burst of production, shale wells decline rapidly, a fact that has been widely known since the fracking boom began more than a decade ago. However, companies promised that these wells would stay online for years, perhaps even decades, even though they would produce at a small fraction of their initial peak.
But as time has passed, wells drilled years ago are now producing a lot less than previously thought. The
WSJ collected data on the 29 largest shale producers. A year ago, the
WSJ found that wells produced from those companies were on track to extract 10 percent less oil and gas over their lifespans than the companies promised. Now, with new data, the
WSJ finds that those wells could produce 15 percent less than initially advertised.
Comment: Is the Palestinians' 'will to survive' stronger than the Israelis' 'will to destroy and eliminate'? The oppressed have courage - but hardly enough to sustain them. Living in a cave to survive is unconscionable - sad commentary on the lack of legal, practical and humanitarian support from the global community.