The 2T bboe is likely talking about in place reserves, not recoverable reserves. See http://en.wikipedia.org/wiki/Oil_reserves#Proven_reserves http://en.wikipe

The 2T bboe is likely talking about in place reserves, not recoverable reserves. See http://en.wikipedia.org/wiki/Oil_reserves#Proven_reserves http://en.wikipedia.org/wiki/Oil_reserves#Proven_reserves for a discussion of the definitions 'in place', 'proven', and 'probable'. Fracking is still a young-ish technique, and last I knew the recovery rates were less than 5%. I don't think it will get above 10% even with technology improvements. Which is still a boatload of Oil / NG / NGL. It's still just 8 years of global demand at current rates.