Oil council: Shale won’t last, Arctic drilling needed now

[Oldman1]

No they wont .
I know you are talking about China and India.
But these nation will have more than 1 billion people in near future like now and their percapita income wont even cross 15000$.even after 3 decades .
But US percapita income is more than 50000$ and will increase in future .So our consumption will always less but US with their ridiculous luxury will move forward with full throttle


List of countries by GDP (nominal) per capita - Wikipedia, the free encyclopedia

Sure they will. They already surpass the U.S. in oil imports.
Fuel Fix » China seen overtaking U.S. as world’s biggest oil user
China will overtake the U.S. as the world’s biggest oil consumer within two decades, according to the International Energy Agency.

“A landmark is reached in the early 2030s, when China becomes the largest oil-consuming country, crossing paths with the United States,” the agency said in a summary of its World Energy Outlook, which forecasts long-term energy trends. The full findings of the report will be presented at a press conference in London today.

Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said. Consumption in developed economies will shrink, with oil use in the U.S. falling to the lowest level in decades, it said.

 

[SrNair]

Sure they will. They already surpass the U.S. in oil imports.
Fuel Fix » China seen overtaking U.S. as world’s biggest oil user
China will overtake the U.S. as the world’s biggest oil consumer within two decades, according to the International Energy Agency.

“A landmark is reached in the early 2030s, when China becomes the largest oil-consuming country, crossing paths with the United States,” the agency said in a summary of its World Energy Outlook, which forecasts long-term energy trends. The full findings of the report will be presented at a press conference in London today.

Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said. Consumption in developed economies will shrink, with oil use in the U.S. falling to the lowest level in decades, it said.

We will choose alternate source in future and our percapita consumption will still remain far less than developed world.

 

[Echo_419]

Even an 18 year old college undergrad drives a Ford or Toyota. Most of the houses are centrally heated via gas. Just to name a few.

Something needs to be done about that we need a viable alternative to Oil

 

[Hindustani78]

U.S. approval moves Shell a step closer to Arctic drilling| Reuters

(Reuters) - The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas exploration in the Arctic since it suffered mishaps in the region in 2012.

"The Arctic is an important component of the Administration's national energy strategy, and we remain committed to taking a thoughtful and balanced approach to oil and gas leasing and exploration offshore Alaska," said Interior Secretary Sally Jewell.

Interior's Bureau of Ocean Energy Management will next consider Shell's exploration plan and perform an environmental assessment on it, which could take at least 30 days.

Shell lost control of a massive oil rig called the Kulluk in 2012, which eventually ran aground. But in anticipation of returning to the region for the first time since then, Shell has already moved rigs to Alaska.

Many environmentalists oppose energy exploration in the offshore Arctic, saying that once production comes on line any oil spill would be extremely difficult to clean up in a remote area with rough and frigid seas.

Oil industry interests say the Arctic will be important to the country's energy security in coming decades when output from shale formations wanes.

(Reporting by Timothy Gardner; Editing by Eric Beech)

 

[Josef K]

Yes it will. Shale will definitely last. But with the current fracking technology, it cannot be fully recovered. But re-fracking technology is being developed now. Once that is available, may be in the next 2 years, we'll be facing a bigger glut. And don't forget the Bazhenov field. We still don't know what it holds.