The Red Queen is back,
The WSJ.
Link here. Most surprising, already 155 comments. First comment:
"..You really look at the entire life cycle of the asset.”....Chevron chief.
This is the company that two months before 2015 oil price collapse said $120 a barrel is a new normal.
The reason he is saying this is not because thus Big Boy is any smarter - but their overheads - not to mention bureaucracy - does not allow quick decision making.
I spent 43 plus years in the oil patch - upstream, though not in shale - and working for Big Boys.
These are the same Boys who scoffed
that there is even such a thing called shale fracking that might yield a bonanza.
They are coming to this party late and trying to spin they missed it out in the first place.
Now, as to flaring of gas - while one bcf a day sounds big - but when you are producing 100 more times as much - this gas is a rounding error.
And ok to compare it to auto emissions - but without shale, many Americans won't be able to drive as much because gas prices would be so high.
A good alarming story - but just a story.
I only read the first five comments. The first five folks commenting were on the same page of music that I am on.
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