crush shale oil producer

[malleefarmer]

http://www.adelaidenow.com.au/business/markets/everything-you-need-to-know-about-the-price-of-oil-and-why-it-matters/story-fni0d7je-1227142301022

[grassfarmer]

"According to BP, total world proved oil reserves reached 1687.9 billion barrels at the end of 2013 — enough to meet 53.3 years of global production….."

Ding, Ding - does nobody see a problem? 53 years and then what back to horses?

[rkaiser]

Oil is not a fossil fuel. It is being produced as we speak and reserve estimates are only to drive fear. And besides, GF, alternative energies will surpass and take over in far less time than 50 years.

The shift was inevitable and now that it has happened, we can either look at this as an opportunity or death of the oil and the petro dollar at the same time. I choose opportunity. Whoop whoop.

[greybeard]

In 1973 during the first "oil crisis" proven reserves were 31 years. 40 yrs later we have gained 20 years.
I'm pretty sure anything not stripped at Ft Mac is not considered proven.