H/T GWPF / RealClearEnergy
The author notes that ‘the rigs are getting roughly twice as productive every three years. No other energy technology is improving that quickly.’
Wind and solar are now experiencing a declining rate of improvement as those technologies start to approach their limits in terms of what physics permits. Shale technology is a long way from its physics limits. In fact, the shale industry is at the beginning of what I’ve earlier termed Shale 2.0.
The Promethean task of supplying energy to the U.S. economy and the rest of the world involves scales that are truly difficult to visualize. Many options appear to make sense until you crunch the numbers. That’s why Bill Gates said that people need to bring “math skills to the problem.”
Consider petroleum alone, which accounts for about one-third of global energy use.
View original post 303 more words