Comments on: Interview with Art Berman - Part 1 http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/ Truth in Energy Thu, 09 Feb 2012 01:21:42 +0000 http://wordpress.org/?v=2.6.2 By: Astersskins http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4812 Astersskins Thu, 03 Mar 2011 16:04:39 +0000 http://www.aspousa.org/?p=4097#comment-4812 <a href="http://www.sispecialsurgery.com" rel="nofollow">Staten Island Plastic Surgery</a> 5th Ave Plastic Surgeon to the Stars Dr.Andrew Mark Klapper has opened a State of the Art JCAHO certified Plastic Surgery and Laser Center in Staten Island Staten Island Plastic Surgery

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]]> By: Interview with Art Berman - Part 2 :: ASPO-USA: Association for the Study of Peak Oil and Gas http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4562 Interview with Art Berman - Part 2 :: ASPO-USA: Association for the Study of Peak Oil and Gas Sun, 05 Dec 2010 14:05:31 +0000 http://www.aspousa.org/?p=4097#comment-4562 [...] spoke with us about 10 days ago, after a presentation in Canada at the CIBC Technical Conference. (Part 1 appeared last week, in the July 19th issue of the [...] [...] spoke with us about 10 days ago, after a presentation in Canada at the CIBC Technical Conference. (Part 1 appeared last week, in the July 19th issue of the [...]

]]> By: Safe Water or Abundant Energy? Take Your Pick – Water Matters - State of the Planet http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4221 Safe Water or Abundant Energy? Take Your Pick – Water Matters - State of the Planet Wed, 11 Aug 2010 14:37:30 +0000 http://www.aspousa.org/?p=4097#comment-4221 [...] geologist Art Berman says it cannot. In an interview with the Association for the Study of Peak Oil and Gas (ASPO), Berman described his skepticism [...] [...] geologist Art Berman says it cannot. In an interview with the Association for the Study of Peak Oil and Gas (ASPO), Berman described his skepticism [...]

]]> By: Zoltan http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4203 Zoltan Sun, 08 Aug 2010 19:18:20 +0000 http://www.aspousa.org/?p=4097#comment-4203 I think this rush to unconventional sources of energy shows our desperate situation. We drill miles deep under water, we dig up sand in ALberta, and squeze petroleum out of it. And now the shale gas plays, where companies received a blank check from the EPA to do whatever it takes. To drill those expensive holes, we have to lie about the potential payload, to atract investment, therefore we say that there is enough there for 100 years. I think this rush to unconventional sources of energy shows our desperate situation. We drill miles deep under water, we dig up sand in ALberta, and squeze petroleum out of it. And now the shale gas plays, where companies received a blank check from the EPA to do whatever it takes. To drill those expensive holes, we have to lie about the potential payload, to atract investment, therefore we say that there is enough there for 100 years.

]]> By: Natural Gas: “False Friend” of Energy Consumers, Policymakers and the Environment « Green Thoughts http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4199 Natural Gas: “False Friend” of Energy Consumers, Policymakers and the Environment « Green Thoughts Fri, 06 Aug 2010 17:57:49 +0000 http://www.aspousa.org/?p=4097#comment-4199 [...] ways, as well as deepwater adventures like the recent BP disaster in the Gulf. [...] ways, as well as deepwater adventures like the recent BP disaster in the Gulf.

]]> By: Bill http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4179 Bill Fri, 30 Jul 2010 14:08:43 +0000 http://www.aspousa.org/?p=4097#comment-4179 Art is hammered by many within the e&p industry but I think he is sincere. There is no doubt that there are wells in the core areas of some of these shale plays which are going to be good money-makers and Art has recognized that. He is looking at the overall big picture and has come up with a different opinion versus the e&p companies. Who will be right, long-term is hard to predict but I definitely consider his position. Art seems to be a very nice guy in a world that can be quite ugly. As one who owns mineral rights in shale plays, I hope he's wrong, haha. Art is hammered by many within the e&p industry but I think he is sincere. There is no doubt that there are wells in the core areas of some of these shale plays which are going to be good money-makers and Art has recognized that. He is looking at the overall big picture and has come up with a different opinion versus the e&p companies. Who will be right, long-term is hard to predict but I definitely consider his position. Art seems to be a very nice guy in a world that can be quite ugly. As one who owns mineral rights in shale plays, I hope he’s wrong, haha.

]]> By: M. Sweeney http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4169 M. Sweeney Mon, 26 Jul 2010 17:02:30 +0000 http://www.aspousa.org/?p=4097#comment-4169 With the example of the BP disaster before us all, anyone with any sense should be concerned about worst-case scenarios occurring in shale gas areas, particularly heavily populated shale gas areas like the Marcellus. We have already had cases in which people have lost their water supplies, effectively rendering their homes worthless. In PA, water wells have exploded. A blowout occurred recently in Clearfield, PA; a similar blowout in a heavily populated area would be catastrophic. I live above the Marcellus Shale in upstate NY, and I assure you there are plenty of people here who will sue if their property and/or health are damaged. In PA, huge horizontal well pads are being constructed right next to homes and schools and busy roads: common sense seems to be in very short supply in the shale gas industry. If they keep on operating like this, a disaster is almost inevitable. With the example of the BP disaster before us all, anyone with any sense should be concerned about worst-case scenarios occurring in shale gas areas, particularly heavily populated shale gas areas like the Marcellus. We have already had cases in which people have lost their water supplies, effectively rendering their homes worthless. In PA, water wells have exploded. A blowout occurred recently in Clearfield, PA; a similar blowout in a heavily populated area would be catastrophic.

I live above the Marcellus Shale in upstate NY, and I assure you there are plenty of people here who will sue if their property and/or health are damaged. In PA, huge horizontal well pads are being constructed right next to homes and schools and busy roads: common sense seems to be in very short supply in the shale gas industry. If they keep on operating like this, a disaster is almost inevitable.

]]> By: Bill Simpson near Slidell, Louisiana http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4166 Bill Simpson near Slidell, Louisiana Fri, 23 Jul 2010 11:49:21 +0000 http://www.aspousa.org/?p=4097#comment-4166 Huge debts can really bite unsuspecting share owners of any mostly shale gas companies, should interest rates rise due to some unexpected crisis. I'm no expert, but investing in them sounds a lot riskier than a lot of people think. The perfect storm of events, and you might find your stock value at $0. Remember the flash crash? Those computers can sell your stock down instantly. When I first read about shale gas, I found it hard to believe that a rock as dense as shale could produce any gas at all, much less produce gas for years. It seems my initial hunch was nearly right. Now I suspect it will be like oil shale, uneconomic until the cheap stuff can no longer supply the demand, and the price explodes. With gas, that could take a good while, with LNG having already been perfected. Huge debts can really bite unsuspecting share owners of any mostly shale gas companies, should interest rates rise due to some unexpected crisis. I’m no expert, but investing in them sounds a lot riskier than a lot of people think. The perfect storm of events, and you might find your stock value at $0. Remember the flash crash? Those computers can sell your stock down instantly.
When I first read about shale gas, I found it hard to believe that a rock as dense as shale could produce any gas at all, much less produce gas for years. It seems my initial hunch was nearly right. Now I suspect it will be like oil shale, uneconomic until the cheap stuff can no longer supply the demand, and the price explodes. With gas, that could take a good while, with LNG having already been perfected.

]]> By: Robert Pledger http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4165 Robert Pledger Thu, 22 Jul 2010 14:25:20 +0000 http://www.aspousa.org/?p=4097#comment-4165 Art is very analytical and knows what he talks about. I agree. The shale plays are not totally evaluated and it is questionable that the ultimate recoverable reserves are as high as projects say. Art is very analytical and knows what he talks about. I agree. The shale plays are not totally evaluated and it is questionable that the ultimate recoverable reserves are as high as projects say.

]]> By: Tom Hewett http://www.aspousa.org/index.php/2010/07/interview-with-art-berman-part-1/#comment-4161 Tom Hewett Wed, 21 Jul 2010 15:56:29 +0000 http://www.aspousa.org/?p=4097#comment-4161 Arthur, In the entire history of the O&G business, it's the good 10-20% of the wells that compensate for 'the dogs'. However, I respect your questioning nature and willingness to think independently. Because industry has to show that they are paying both the drilling AND the leasing costs there could easily be a bias leading to overstated results. You did a nice job of making that case. And as I search for O&G companies that are being run conservatively with debt/equity ratios less than 50%, the list is short. Because the leverage mimics our overall economy, risk is increased and I thank you for mentioning that in your analysis too. Looking forward to Part II. Arthur, In the entire history of the O&G business, it’s the good 10-20% of the wells that compensate for ‘the dogs’. However, I respect your questioning nature and willingness to think independently. Because industry has to show that they are paying both the drilling AND the leasing costs there could easily be a bias leading to overstated results. You did a nice job of making that case.

And as I search for O&G companies that are being run conservatively with debt/equity ratios less than 50%, the list is short. Because the leverage mimics our overall economy, risk is increased and I thank you for mentioning that in your analysis too.

Looking forward to Part II.

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