Back to US oil shale. I’ve had a number of my Outstanding Investment subscribers write in after receiving a special report titled “The US Government’s Secret Colorado Oil Discovery.” It spoke of “the next American oil boom” and said the United States could become “the new Middle East.” This led at least a few readers to ask reasonable questions like, “What does this mean for the energy bull market?”
So how does this affect the Peak Oil scenario?
Consider this recent quote from Bob Loucks, a former manager with Shell who oversaw its shale oil recovery operations: “Despite all the attempts to develop a shale oil industry in the United States over the past 100 years, the fact remains that no proven method exists for efficiently moving the oil from the rock. There are a number of candidate processes possible, but none has demonstrated a practical capability to produce oil.”
Bob Loucks is no diehard pessimist or skeptic. In addition to his field experience, he is also the author of the book Shale Oil: Tapping the Treasure. Loucks is long-term bullish on the prospects for America’s oil shale. But he recognizes that, here and now, we are still not there yet technologically.
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