We will drill, baby, drill; shale output peaked in November 2023

januari 24, 2025

Donald Trump is late to the shale party.

The fracking boom of the last 15 years has largely run its course as the best seams are exploited and productivity declines.

“We will drill, baby, drill. We will be a rich nation again, and it is that liquid gold under our feet that will help to do it,” said the president at his Orwellian inaugural.

The US Energy Information Agency (EIA) said shale output peaked in November 2023 and fell last year for the first time since the fracking revolution began.

“The great drama of American shale may now be nearing its final act. The Permian shale oil basin is very close to peaking out. When it does, everything changes for the US and the world,”

said Adam Rozencwajg, from commodity specialists Goehring & Rozencwajg.

He said AI and new techniques can perform marvels but “enthusiasm for growth cannot override the fundamental constraints of geology.”

Ambrose Evans-Pritchard Telegraph 24 January 2025

https://www.telegraph.co.uk/business/2025/01/24/when-it-comes-to-energy-donald-trump-is-chinas-useful-idiot/