Brazil’s Largest Ever Oil Auction Flops
In a time hen shale is cheaper to develop and so much faster to turn around and offshore deepwater is so expensive, why look at anything but shale? This is the conundrum all expensive oil sources have. Look at Arctic oil and gas. Russia is sitting on a bunch of them and I bet that those they develop right now on Yamal don’t make their investments back. The others in the Kara Sea, in the Barents Sea and further out are essentially stranded. Huge and juicy if only they could be developed economically. It’s like Titan – the Saturnian moon. There is LNG on the surface in ready-made oceans. It would be a fortune if it could be brought to Earth economically. But it can’t. We need to get chummy with the notion of stranded oil and gas. Jut because its there does not mean it’s worth anything.
