A decade since the start of a shale gas revolution that unlocked new supplies and resulted in a “wholesale turnaround” in U.S. production, the overall size of recoverable gas reserves continues to increase and the pace of production growth is only accelerating, a new report by business information provider IHS Markit says. Altogether, U.S. production is expected to grow by another 60 percent over the next 20 years, the report says. —Business Wire, 20 June 2018
To say that the ‘Shale Gale’ has been anything but a veritable revolution would be an understatement. It represents a dramatic and largely unanticipated turnaround that dramatically changed both markets and long-term thinking about energy. The profound and ongoing impacts on the industry, energy markets, the wider economy and the U.S. position in the world continue to unfold. –Daniel Yergin, vice chairman, IHS Markit, 20 June 2018
The story of the shale revolution is not just the scuttled claims that we’re running out of energy resources. It is also an important lesson about American exceptionalism and the conditions that made this breakthrough possible. The shale revolution likely could not have emerged and resiliently endured in any country other than the U.S. The still young energy miracle is an achievement of technological innovation, determination, and economic freedom operating within a country that respects free enterprise and competitive markets. —Kathleen Hartnett White, Washington Examiner, 18 June 2018
The great American shale boom offers a number of lessons for us. We should never underestimate the non-stop advance of energy technologies, even for the conventional sources that many assume will just simply cede the future to renewables. It regularly gets forgotten that while it is indeed true that wind and solar energy will continue to evolve, so will oil and natural gas technologies. To illustrate, EIA’s International Energy Outlook 2007 never even mentioned shale as a possible future source of oil (or natural gas) in the decades ahead. In the years since, however, the U.S. shale boom has become the most important energy development globally in at least the past 50 years. –Jude Clemente, RealClearEnergy, 21 June 2018
When China last week set out a list of US exports threatened with retaliatory tariffs, almost all fossil fuels were covered, including oil, coal and liquefied petroleum gases such as propane. There was, however, one conspicuous exemption: liquefied natural gas. China’s demand for LNG is soaring, and its imports of gas from the US have been rising fast: from nothing in 2015 to 17bn cubic feet in 2016 to 103bn cubic feet last year. By deciding not to restrict imports of US LNG, China has let its energy policy override its trade policy, for the time being at least. –Ed Crooks, Financial Times, 21 June 2018
Also note t hat this same liberal rag TIME was blabbering about Global Cooling and New Ice Age back in the 1970’s these liberal news rags dont give the news they give their own liberal opinion and lies whats needed is to harness the Hot Air coming from Al Bore,Leonardo DiCaprio,David Suzuki,Bill Nye Barack Obama and those idiots from the various Eco-Wacko Groups
I don’t know if this is accurate, but I once read that the US has more oil in the form of shale oil than Saudi Arabia had before they started pumping.
One man lived in an area where shale oil was on the surface, but he didn’t know what it was. When he built his house, he used shale oil rock to make his fire place. He is first fire was pretty spectacular.
Texas is pulling shale oil out of the ground faster than it can be shipped. WTI is now at a $9/ bbl discount to Brent crude. They need more pipeline capacity, just like Alberta.