Hughes quoted at Bloomberg on shale gas
April 22, 2014
Post Carbon Fellow David Hughes was quoted in this editorial at Bloomberg questioning assumptions around US energy independence.
From the article:
The problems arise when you look at how quickly production from these new, unconventional wells dries up. David Hughes — a 32-year veteran with the Geological Survey of Canada and a now research fellow with the Post Carbon Institute, a sustainability think-tank in California — notes that the average decline of the world’s conventional oil fields is about 5 percent per year. By comparison, the average decline of oil wells in North Dakota’s booming Bakken shale oil field is 44 percent per year. Individual wells can see production declines of 70 percent or more in the first year.