The extraction of oil and natural gas from shale has reduced the amount of oil the United States needs to import and is adding to the economy in the forms of jobs, investment, and growth. Oil Shale oil is a substitute for conventional crude oil; however, extracting shale oil from oil shale is more costly than the production of conventional crude oil both financially and in terms of its environmental impact. Deposits of oil shale occur around the world, including major deposits in the United States. Oil and gas shale plays have transformed the North American oil and gas industry (see Exhibit 1, for a play index map). Such plays may also transform the global oil and gas scene as more shale developments outside NA mature including the Vaca Muerta in Argentina, Sichuan shale gas in China, UK shale gas, Saudi Arabian shale gas, etc. The reality is that shale needs an oil price that is beyond what the economy can support. The price can see-saw back and forth as it has been doing since it went to $147 in the months just before the GFC. The main reason that the economy has not crashed into recession with oil over $50 is stimulus. Shale oil's impact will have "huge implications" for global energy markets for many years, Fatih Birol, executive director at the International Energy Agency, told CNBC on Tuesday.
Oil and gas shale plays have transformed the North American oil and gas industry (see Exhibit 1, for a play index map). Such plays may also transform the global oil and gas scene as more shale developments outside NA mature including the Vaca Muerta in Argentina, Sichuan shale gas in China, UK shale gas, Saudi Arabian shale gas, etc. The reality is that shale needs an oil price that is beyond what the economy can support. The price can see-saw back and forth as it has been doing since it went to $147 in the months just before the GFC. The main reason that the economy has not crashed into recession with oil over $50 is stimulus. Shale oil's impact will have "huge implications" for global energy markets for many years, Fatih Birol, executive director at the International Energy Agency, told CNBC on Tuesday. Note: The tables in this article have been updated since its initial publishing. For years, we've been warning here at PeakProsperity.com that the economics of the US 'shale revolution' were suspect. Namely, that they've only been made possible by the new era of 'expensive' oil (an average oil price of between $80-$100 per barrel).
12 Dec 2017 So far, however, studies analysing whether the shale boom has fundamen- tally changed the transmission of oil shocks to the U.S. economy 9 Jan 2015 The basic economics of fracking—what it costs to drill versus what oil now On average, the “all-in,” breakeven cost for U.S. hydraulic shale is 23 Aug 2016 Finally, the article explores the implications of the shale oil revolution for the U.S. economy and explains why increased shale oil production is
Oil and gas shale plays have transformed the North American oil and gas industry (see Exhibit 1, for a play index map). Such plays may also transform the global oil and gas scene as more shale developments outside NA mature including the Vaca Muerta in Argentina, Sichuan shale gas in China, UK shale gas, Saudi Arabian shale gas, etc. Is oil shale economically viable? Even the federal government doesn’t know. A close review of economic data reveals that potential economic benefits of oil shale are are far different than what proponents claim. The federal government has a poor understanding of the economic and socioeconomic impacts of commercial oil shale development "(If) anybody thinks we have seen the full impact of the shale revolution in the United States, then he or she is making a big mistake," Birol told CNBC's Steve Sedgwick at the World Economic Its relevance has only grown over the past decade with the emergence of shale oil in the United States. Shale has a shorter lead time between drilling and production relative to offshore exploration and other traditional oil projects, making it more responsive to oil price movements. Shale oil costs more than conventional oil to extract, ranging from a cost-per-barrel of production from as low as $40 to over $90 a barrel. The cost of conventional oil varies so much that Saudi
4 days ago The government established the strategic reserve in the 1970s after an oil embargo damaged the US economy. Releases from the reserve 1 Jun 2018 U.S. oil output has boomed since 2014 as drillers have increased their use of horizontal hydraulic fracturing, making the nation one of the