Shale oil “not a game changer”: summary of recent studies in New Scientist.

David Stachan: “It is distressing that Mr Maugeri’s report– now shown to be full of glaring mathematical mistakes and wholly discredited – got so much attention, while an excellent working paper by a team at the IMF received much less.” “It is also ironic that parts of the commentariat are turning against peak oil just as some economists – traditionally hostile to the notion – are coming round to it. Peakonomics, if you will. ….In this context, shale oil is not a ‘game-changer’, but a sign of desperation. “We have to do these really expensive and really environmentally messy things just in order to stand still or grow a little bit”, says Kumhof (an author of the IMF study), “it doesn’t mean the picture is all rosy”.”