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It is too difficult and expensive for this. Most of them are taking a loss at this price.
by empath75 7y ago
It is too difficult and expensive for this. Most of them are taking a loss at this price.
- evjrob 7y agoTrue, but tight oil production that was previously though to be impossible to extract economically has more than offset losses in conventional production. Peak oil predictions of decades past presumed this could only happen when oil prices rose so high that alternative energy sources would be competitive. Therefore these reservoirs would remain uneconomic. Instead fracking got really cheap.