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Chasing Shale
Support Swells for British Fracking
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  • Jacksonian_Libertarian

    We’ll see, the UK needs more than what has been mentioned for successful shale oil development. Just last year British Petroleum was trying to develop a small subsidiary that could compete with the small American Shale Oil developers, which is coming pretty late to the game. This tells me that BP is unlikely to have the experience or the proprietary knowledge for the efficient development of shale oil. Margret Thatcher privatized BP, but it is still Big Oil and is therefore heavily insulated from the “Feedback of Competition” which has created the American Shale Oil developers. In addition, I think the American Shale Oil developers are unlikely in this difficult oil market, to want to risk their capital developing the unproven UK shale oil market. I expect the inexperienced Big Oil will look to make money off the British government, as they have off of the naive Eastern Europeans and elsewhere, without actually developing anything. The will make bogus excuses for their failure, but will make a nice profit from the government without doing much. A couple of the bogus excuses that I’ve heard are “There’s too much clay in the shale” shale is a sedimentary rock, it is what clay and silt turn into when under great pressure over time, and “The shale is in broken strata not nice and layer cake like American shale” the development of horizontal drilling gives drillers the ability to turn the drill to follow the strata where ever it goes.

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