Hughes quoted in CNBC article on shale
May 23, 2014
Post Carbon Fellow David Hughes was heavily quoted in this article on the Monterey shale downgrade at CNBC.
From the article:
“At some point we’re going to hit a wall,” Hughes said. “Monterey was a huge field wiped out with a stroke of a pen: That’s like two Bakkens off the table in one fell swoop.”
If the U.S. boom is to be sustained beyond 2020, new shale plays will need to be discovered within the next few years, he added.
“You’re going to have a whole slew of poorly producing wells in a decade or so,” Hughes said. “The good news is that supply grows short term, but the bad news is that we may have a very serious supply issue 10-15 years out.”