CleanTechnica•about 2 months ago
The Oil Industry Is Facing A Problem
Key Takeaway
The increasing difficulty and cost of sustaining oil production from conventional sources strengthens the economic case for accelerating the transition to alternative, cleaner energy technologies.
AI Summary
- •Oil production from horizontal wells is experiencing rapid declines, necessitating continuous and increased drilling efforts to maintain current output levels.
- •This trend suggests rising operational costs and diminishing returns for conventional oil extraction, potentially impacting global energy supply stability and pricing.
- •The increasing difficulty in sustaining traditional oil production strengthens the economic and strategic case for accelerating investment in and adoption of alternative, non-oil energy sources for power generation and large industrial loads.
Topics
emissionspolicy
Article Content
An interesting headline from the U.S. Energy Information Administration caught my attention last week. The title of the short story is: “Rapid declines from horizontal wells require more drilling to sustain production.” It sort of feels like an advocacy article of some sort to support our “oil economy.” Here’s the ... [continued] The post The Oil Industry Is Facing A Problem appeared first on CleanTechnica .