It has been a while since I posted anything on this important topic, which helps to explain a lot of what is going on today. It's all about EROEI! (Energy Returned Over Energy Invested):
Helps to explain Ukraine, Syria, Iraq, etc. Also, according to Jim Willie, Saudi Arabia have been overestimating their reserves for years, and are now mostly pumping water!
They agree that fracking is insane, and that this is proof, as if we needed it, that we've harvested all the low-hanging fruit and this is the bottom of the barrell.