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IMO that was another problem with the peak oil theory -- the obsession with EROEI. They would say that Saudi oil was, say, 30 EROEI and shale was 5. If you fl
by cameldrv 4y ago
IMO that was another problem with the peak oil theory -- the obsession with EROEI. They would say that Saudi oil was, say, 30 EROEI and shale was 5. If you flip that upside down though 30 EROEI = 97% efficiency, and 5 EROEI is 80% efficiency. Of course you'd rather have 97% efficiency, but 80% works fine.
- aidenn0 4y agoYeah, I don't buy the EROEI argument either. I do think that non-demand based price shocks spurred research into more expensive (usually lower EROEI) sources of petroleum much sooner than a purely open market would have. 1975-1985 was about as expensive (inflation adjusted) as the early 21st century, and we didn't have a huge shale boom then.