#shale

4ndy@joindiaspora.com

Beginning of the End? Oil Companies Cut Back on Spending

Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off part of their assets in order to have funds to pay their dividends. Such an approach is likely to lead to an eventual drop in oil production.

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#Peak #Oil #PeakOil #FossilFuels #Energy #Collapse #Scarcity #Shale #Infrastructure #Agriculture #PetroDollar