IEA: Shale Oil and Gas Are Here to Stay

This chart comes from the International Energy Agency, which has not always had the greatest track record in world when it comes to energy projections, but it’s still worth a look:

I have long been under the impression that shale oil and gas production is likely to peak and then decline fairly rapidly, but this IEA projection suggests that shale gas production will grow through 2040 and shale oil production will decline only modestly after 2025. I need to take a closer look at this before I offer any comment, but thought it was worth putting it out there while I ponder over it.

Hat tip to James Pethokoukis at AEI, who misattributes this IEA chart to the EIA.