Penticton Western News: "The supposed 100 year supply is a fraud, the cost to drill the majority of these tight wells falls between three and six million dollars, they produce 80 to 100 barrels a day and have a decline rate of 40 to 60 per cent per year with some wells declining up to 90 per cent.
With those decline rates companies are forced to drill more holes thus investing bigger chunks of capital and energy into extraction. Current estimates have the supply of shale gas peaking within the decade. Shale gas, offshore deep water drilling and the oil sands don’t disprove peak oil theory, they confirm it. Peak oil doesn’t mean running out of oil, it means running out of cheap, easily accessible oil, the very lifeblood of growth economics.
...But here’s some things you can do: buy more local food from the farmers market, walk or bike to work more, conserve energy and water, plant a big garden, learn how to can, buy locally made goods and properly insulate your house.
These are just some of the ways you can prepare for the energy crunch. You should also lend support to any Transition Town Initiatives and the Penticton Urban Agriculture Association. The response to peak oil is going to have to come from the ground up."