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Nick Hodge – Peak Oil: It’s Baaaack – PRN.fm – PRN.fm

Nick Hodge – Peak Oil: It’s Baaaack – PRN.fm – PRN.fm.

Nick Hodge – Peak Oil: It’s Baaaack

Posted on: March 19th, 2014

Over the past few months, I’ve been sharing my concerns about shale oil.

Namely, that it’s more comparable to a Ponzi scheme than any sort of boom.

I’ve articulated the reasons for my thesis, including fast decline rates, the amount of new rigs and wells needed, and a cost of production that’s been higher than the price of sale for some time now.

I’ve also shared recent evidence that this theory is proving correct, from horrid earnings reports — citing the reasons I just mentioned — for oil majors across the board to the fact that mainstream media outlets are starting to put the dots together, running stories like:

“Big Oil Companies Struggle to Justify Soaring Project Costs” —Wall Street Journal

“Dream of U.S. Oil Independence Slams Against Shale Costs” — Bloomberg

“Why America’s Shale Boom Could End Sooner Than You Think” —Forbes

“What Happens When The Shale Boom Ends?” — Christian Science Monitor

After my last article on the subject, I got an email from a sophisticated investor-friend of mine worth hundreds of millions of dollars — some even say a billion. His subject line was: “Awesome Article on Shale.” Here’s what he had to say:

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Nick Hodge – Peak Oil: It's Baaaack – PRN.fm – PRN.fm

Nick Hodge – Peak Oil: It’s Baaaack – PRN.fm – PRN.fm.

Nick Hodge – Peak Oil: It’s Baaaack

Posted on: March 19th, 2014

Over the past few months, I’ve been sharing my concerns about shale oil.

Namely, that it’s more comparable to a Ponzi scheme than any sort of boom.

I’ve articulated the reasons for my thesis, including fast decline rates, the amount of new rigs and wells needed, and a cost of production that’s been higher than the price of sale for some time now.

I’ve also shared recent evidence that this theory is proving correct, from horrid earnings reports — citing the reasons I just mentioned — for oil majors across the board to the fact that mainstream media outlets are starting to put the dots together, running stories like:

“Big Oil Companies Struggle to Justify Soaring Project Costs” —Wall Street Journal

“Dream of U.S. Oil Independence Slams Against Shale Costs” — Bloomberg

“Why America’s Shale Boom Could End Sooner Than You Think” —Forbes

“What Happens When The Shale Boom Ends?” — Christian Science Monitor

After my last article on the subject, I got an email from a sophisticated investor-friend of mine worth hundreds of millions of dollars — some even say a billion. His subject line was: “Awesome Article on Shale.” Here’s what he had to say:

Read More

Video: New radioactive water leak discovered at Fukushima plant – Telegraph

Video: New radioactive water leak discovered at Fukushima plant – Telegraph.

Video filmed by a remote control robot at the Fukushima plant shows highly radioactive water, which is believed to have leaked from one of the damaged reactors

11:00AM GMT 21 Jan 2014

The video was released by the Tokyo Electric Power Company (Tepco) as they continue their efforts to make safe the nuclear plant wrecked byJapan’s 2011 earthquake and tsunami.

Highly radioactive water was detected inside the No. 3 reactor building at the Fukushima Dai-Ichi nuclear plant, Tepco said.

It is believed that the water may have leaked from within the reactor.

The water was found to have high levels of radioactive cesium and cobalt, but Tepco claimed none of the water has leaked out of the building itself.

A report in December suggested it would take five years to put an end to radioactive water leaks in and around the plant.

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