First, I will say I have worked for a major oil company.
Second, I will say I have read "Twilight in the Desert" by Matthew Simmons, was an ardent follower of The Oil Drum
petroleum web site - was more active there than I am here.. That site was full of petroleum engineers and field guys - and I trusted their insight far more than I trust words from any investment advisor sitting behind desk whose job it is to influence my decisions of how to allocate my retirement savings.
And Third, I will say I swallowed the "Peak Oil" paradigm hook line and sinker. Apparently messed up my retirement savings big time by investing in the energy sector as I believed with all my heart that we were in serious decline.
Suddenly fracking made the scene and all the investment buyers saw energy as plentiful again. And the price dropped, And many of the smaller guys sold out.
I cannot help but wonder if all this panic talk is them yet rounding up another round of panicky people and investors to make a poor investment.
I can't help but remember all this talk about how dire our energy situation was coming from our leaders. Then there is no energy crisis, Then there is.
Almost sounds like Donovan singing about petroleum. First there is a crisis, then there is no crisis, then there is.
We pay countless taxes into our government, and countless well-paid bureaucrats are supposed to be leading us, but does anyone up there really know what's going on?
So far, they seem to rank about as reliable as an ouija board.
How in the hell can anyone make rational decisions when no-one seems to take this stuff seriously? It seems lately all our government has wanted to so is snoop. 96% is a helluva big number.
I believe special interest tie guys have the government release all these "facts" in order to manipulate the market.
When I saw fracking, I was and still am concerned that was equivalent to "blowing the gas cap" on a dying oil well as once we relieved the subterranean pressure that was helping to push what was left of the liquid oil to the surface, we were draining the last "fart" from the earth before there was no longer enough energy recoverable from the lift effort than we were able to recover from the oil lifted. It meant the show was over.
I remain very concerned this whole fracking "happy days are here again" thing has been nothing more than a ploy to get control of the remaining oil reserves at a bargain basement price.