1.0Climate Change Dispatchhttps://climatechangedispatch.comThomas Richardhttps://climatechangedispatch.com/author/ccdeditor/US Oil Production Largest In More Than 100 Yearsrich600338<blockquote class="wp-embedded-content" data-secret="hrWy6WsZfH"><a href="https://climatechangedispatch.com/us-oil-production-largest-in-more-than-100-years/">US Oil Production Largest In More Than 100 Years</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://climatechangedispatch.com/us-oil-production-largest-in-more-than-100-years/embed/#?secret=hrWy6WsZfH" width="600" height="338" title="“US Oil Production Largest In More Than 100 Years” — Climate Change Dispatch" data-secret="hrWy6WsZfH" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript">
/* <![CDATA[ */
/*! This file is auto-generated */
!function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document);
/* ]]> */
</script>
2014 was a record-breaking year for US oil production. Spurred by the shale revolution, US crude output increased by a record 1.2m barrels a day to 8.7m b/d last year, according to a report published by the Energy Information Administration on Monday. That is the largest volume increase since 1900, the year the agency began keeping records. --Financial Times, 30 March 2015 Ever since the oil price decline began in earnest back in July 2014, popular discourse has suggested US shale plays would be in deep trouble. However, assumptions about a wholesale decline in activity now appear to be exaggerated at best. Tom Morgan, Analyst and Corporate Counsel at Drillinginfo, says making assumptions based on headline data miss one crucial point – efficiency gains. "No one in the industry is pretending that a lower oil price doesn't bite. Yet, technological progress over the last decade, especially in terms of horizontal drilling is reaping benefits when times are hard. Over the last three years, efficiency of shale explorers has increased by 25%; so in effect three years ago the profitability of $100 per barrel oil is the same profitability at $75 per barrel." --Gaurav Sharma, Forbes, 30 March 2015https://climatechangedispatch.com/wp-content/uploads/images_pics7_EIA_2014.jpg