The U.S. shale energy boom is real but will prove to be fleeting, argues Randall Udall in a column at The Christian Science Monitor.
Udall writes: "Weíve been told this is a new era. And thatís true, it is. Since your cushy way of life is increasingly dependent on stingy rocks, you should be thankful that the industry geeks have unlocked the dregs.
"So, yes, celebrate the shale miracle, but forswear the hype. If geology is destiny, decline rates are its script. The American future isnít a romance with abundance, itís a plea bargain with depletion.
"Tonight, there will be more rigs rotating right in Texas than in all of Europe, Africa, and the Middle East combined. Texas is 40 times larger than Kuwait. But that tiny country needs just 35 rigs to produce 2 million barrels a day whereas Texas needs 800."
Udall is co-founder of the Association for the Study of Peak Oil - USA and brother of U.S. Sen. Mark Udall (D), Colorado.
You can read the entire article here.