Mohacsy's Safe Portfolio Member Forum

[RichardTC]

I am not discounting your experience. I respect your depth of knowledge. Is it possible that technology has advanced to the point that shale is know viable?

Granted, shale has a high cost of extraction. However, it strikes me as short sighted to not develop local resources. Ignoring the current US prohibition on the export of oil, what is the argument for not developing shale extraction technology?

Comparative advantage? Allocation of limited resources? Shift away from carbon based fuel? What is your argument?

From my standpoint, it seems that technological innovation offers the highest long term value. It is counterproductive to US national interests and international oil companies to not innovate. At the moment fracking, deep sea drilling and shale are the focus.

I understand the appeal of wind, solar, biomass and other renewables. I simply believe that current technological realities favor carbon based fuels at the moment. If we're arguing over short versus long term solutions, that's fine. I'm just trying to make sure I haven't incorrectly assessed the viability of US shale to further domestic energy independence.