Kirill Klip: Peak Oil Was Just Postponed - EIA Write-down Of Two-thirds Of US Shale Oil Explodes Fracking Myth.

Sunday 29 June 2014

Peak Oil Was Just Postponed - EIA Write-down Of Two-thirds Of US Shale Oil Explodes Fracking Myth.

Jim Puplava has a very interesting discussion about Peak Oil on his Financial Sense this week. You do not hear a lot in the mass media about the report on coming write-down by IEA of two-thirds of US shale oil reserves, but it is the really groundbreaking news exposing fracking hype and myth everybody should be worried about now. Peak Oil Is Back! You can find my own findings and how we are addressing this coming Peak Oil by building our International Lithium to make Electric Cars mass market possible one day below on the links. Please, enjoy: "Jim Puplava's Big Picture: Peak Oil - Delayed But Not Resolved":

"Jim’s first topic on the Big Picture this week is “Peak Oil – Delayed but Not Resolved”. Jim lays out the issue of Peak Oil in depth, and quotes studies that believe it could still arrive by the end of this decade. Jim also looks at the Shale Revolution in the US and discusses how long the shale story may delay the onset of Peak Oil. The next topic is “OPEC’s New Competition”. Jim looks at the geological and geopolitical constraints on OPEC and sees North America as a growing and viable competitor to OPEC’s energy dominance in the future. Jim Puplava."

International Lithium Corp. A Potential Source For Green Technology Minerals.

"Rare Earth elements or metals (REEs) are essential elements in clean-energy technologies. In recent years REEs have received plenty of coverage concurrent to growing environmental concerns. The rare-earth topic is no longer obscure and discussions regarding future REE shortages are beginning to emerge in mainstream media. Today international governments and organizations are pushing efforts to develop solutions to the rising scarcity threat, one of the biggest being that only 1 percent of critical materials are currently being recycled (they are difficult to recover economically), and so the race to find viable sources for REEs is on.

The Green Technology Industry is the largest end-user of REEs and is continually growing with the development of electric vehicles and green energy electrical generators; wind turbines and solar panels. According to the American Chemistry Society, Lithium is among these endangered metals. China, which controls 97% of global rare earth production, has made significant investments in securing their supply. One excellent example of this is the recent news from China based Ganfeng Lithium Corp. regarding their 15million yuan (US $2.4 million) investment into International Lithium’s Blackstairs Pegmatite project in Ireland and the Mariana Brine project in Argentina for the 2014 budget year. Ganfeng Lithium Corp. is one of the largest lithium product suppliers in the world supplying ILC with both capital and expertise and providing the global green technology industry with a new potential source of lithium supply. Read more."

International Lithium: Tesla Goes Open Source, Ganfeng Lithium Goes for Vertical Integration.

"Ganfeng Lithium news is making rounds now in the industry circles and Resource Investing News has published an interesting article on the recent developments in the Lithium and Electric Cars space. Read more."

International Lithium: Ganfeng Lithium Acquisition of Lithium Battery Company To Build The Vertically Integrated Industry Chain.

NATO: Russian Spies Against "100% Safe Fracking", Two-thirds Of US Shale Oil "Could Be Stolen By Chinese Hackers."

Now we can look at all these events in another light. Dr Nafeez Ahmed reports in The Guardian: "Write-down of two-thirds of US shale oil explodes fracking myth":

"Industry's over-inflated reserve estimates are unravelling, and with it the 'American dream' of oil independence

Next month, the US Energy Information Administration (EIA) will publish a new estimate of US shale deposits set to deal a death-blow to industry hype about a new golden era of US energy independence by fracking unconventional oil and gas.

EIA officials told the Los Angeles Times that previous estimates of recoverable oil in the Monterey shale reserves in California of about 15.4 billion barrels were vastly overstated. The revised estimate, they said, will slash this amount by 96% to a puny 600 million barrels of oil. The Guardian."

I think that we all can appreciate much better the report by David Hughes at Post Carbon Institute "Drill, Baby, Drill" Can we talk now that fracking potentially has just only postponed The Peak Oil? Chris Nelder gave a very good interview on this subject in depth last year: "Peak Oil Isn't Dead".

Have you checked you fuel Gas or Petrol receipts lately? If we have so much Oil from fracking why the prices are still so high? Even with the Global Economy still recovering at very tepid pace? What will happen when FED's QE will produce its miracle - "The Solid Growth"?

Add into the picture the air pollution from all types of ICE engines, when in China major megalopolises are literally suffocating with horrible air pollution and people are sold "The Mountain Air In The Bags". Read more."