Is shale oil cheap?

Just a quick note here based on some information I have been hearing about shale oil. If you recall, I wrote a primer on peak oil a week or so ago. The crux of that post was that it is not a question of our running out of oil but rather of our running out of cheap oil. And that has economic implications since we are at a point where oil prices are high enough that people begin to cut back on consumption, so-called demand destruction.

Some anecdotal evidence suggests that the nonconventional o...


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