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320 comments on DrumBeat: February 22, 2008
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320 comments on DrumBeat: February 22, 2008
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Shell's oil sands operations are less marginal than the new comers, but more marginal than those of Syncrude, which is already built. Allowing them to book reserves which are uneconomic at oil prices below $150/bbl, or which require nuclear power after the natural gas runs out, is just another signal of where things are going.
This is inevitable, right? As Oil companies re-position themselves as energy companies their portfolios will increasingly include far out stuff. The regulators and the markets will need to adjust.
It's also highly probable that more of these far out (and low EROEI) sources are going to be tapped, no matter the societal costs to keep the energy flowing.