13th December 2014
Fracking wells to increase eightfold by 2040
In the last ten years, 85,000 tight oil and shale gas wells have been drilled in the U.S., from Texas to Pennsylvania, North Dakota to Louisiana. But that pales in comparison to what the U.S. government expects to see over the next 25 years. We now have clear evidence that shale wells deplete quickly, with most of their production coming in the first few years. But while the benefits are fleeting, the impact of fracking could last generations. Is it worth it? This video is courtesy of the Post Carbon Institute. Their latest report shows that overall production is expected to peak by 2020 and decline to a small fraction of its current level by 2040.