Shale Energy No Quick Solution. YaleGlobal. Deepak Gopinath. September 3, 2013.
Innovations in drilling and hydraulic fracture technologies have opened new supplies of shale oil and gas for the United States, and other countries are intrigued. The U.S. anticipates energy independence, but the “shale boom may be more short-lived than many had expected, and shale’s global potential may also be overstated,” writes Deepak Gopinath, an independent economist based in New Delhi. The processes are costly: chemicals and water are pumped underground, requiring the disposal of millions of liters wastewater. The new wells have a shorter lifespan and Gopinath also notes “the scale of additional investment required to keep the boom going appears unsustainable absent new technological breakthroughs.” U.S. success may not automatically be replicated in other markets. A secure market requires the right geology, government regulations, technical expertise and funding. Without further technological development, the shale oil revolution could be a passing trend that simply delays the search and development of alternative fuels that stem climate change, according to the author. [Note: contains copyrighted material].
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