Hit & Run

Ronald Bailey Asks is the Shale Revolution a 'Ponzi Scheme' or the End of Peak Oil?

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Shale revolution
GWPF

A lot of folks are fervently forecasting that U.S. shale gas and oil production is a bubble about to pop, possibly producing an economic collapse similar to the one in 2008. For example, the left-leaning Center for Research on Globalization in Montreal piled on earlier this week citing reports that dismiss the shale revolution as a "Ponzi scheme" and "this decade's version of the Dotcom bubble." On the other hand, back in 2012 President Barack Obama claimed, "We have a supply of natural gas that can last America nearly 100 years"? Reason Science Correspondent Ronald Bailey delves into the data behind domestic oil and gas production projections to find out who is right.