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Posts Tagged "shale oil"

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Competition Between OPEC, U.S. Drives Oil Prices to Four-Year Low

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On Thursday, the Organization of Petroleum Exporting Countries (OPEC), an economic cartel responsible for approximately one third of global oil production, announced it would not decrease its rate of oil production. The announcement comes despite steadily decreasing global oil prices over the past several weeks, indicating that OPEC and its chief member Saudi Arabia are [...]

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Technically speaking – 10% of world crude, 32% of natural gas are sitting in shale

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“Technically recoverable resources” – three words that refer to the amount of crude oil and natural gas that can be extracted from the ground using today’s technologies. No future innovations needed. The magnitude of this value with respect to shale gas formations was the focus of a major report released last week by the U.S. [...]

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U.S. Poised For Energy Self-Sufficiency

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Before the close of the decade, the United States could become the world’s top producer of oil and natural gas. According to the International Energy Agency (IEA), increasing domestic production combined with domestic energy efficiency could leave the country “all but [energy] self-sufficient.” The U.S. could even become a net oil exporter by 2030, shifting [...]

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