U.S. oil companies use AI for faster shale drilling, mitigating OPEC production cuts

Proponents of peak oil like to entertain us with their latest horror story of how we will run out of oil and gas and how that is going to crash the world. Never mind that all those theories have been confounded by reality so far but hardly anyone thinks about why that is. The oil and gas we have exploited so far (and I am talking about all oil and gas production since the first drillers in Pennsylvania) is the easy part. That’s not a quarter of all there is, or not even 10%. It’s closer to 1% and likely even less. So all the oil and gas we have pumped so far is likely much less than 1% of the total existing reserve. But the new fields are not easy. They require tech. This is why US drillers will take an insurmountable lead over everyone else. 

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