Quote:
Originally Posted by Codiac
The Oil Shale process that Shell is developing won't be open pit mining like the Oil Sands. They are going to basically speed up the process that mother nature uses to produce oil....HEAT and pressure to force the product out. I don't think the bubble burst is going to hurt you. I think prices will fall but not enough to put you out of work. Here is a scary article on Saudi Arabia's Ghawar oil field. It may not be the giant any longer but who knows for sure..they won't let anyone verify their claims but their production is falling.
Ghawar |
I don't have a ton of experience, but from what i've seen and heard, is that when you introduce a water flood (injecting water into a formation to wash the oil off the rock), its on its way out. You can still produce for a long period of time, but production falls quick. There's no doubt that the Ghawar field will peter out, there's only so much down there.