ConocoPhillips CEO says shale bubble worries are unfounded

|About: ConocoPhillips (COP)|By:, SA News Editor

ConocoPhillips (COP) CEO Ryan Lance refutes the warnings of shale boom skeptics, maintaining the U.S. shale revolution is only in the “first inning of a nine inning game” and critics shouldn’t assume growing shale production will stop any time soon.

Skeptics say the U.S. is facing a shale bubble, and energy production declines much more dramatically from shale drilling relative to conventional techniques, but Lance adamantly disagrees, arguing that the industry’s technology advances could compensate for any projected production declines.

"What we’re learning is we’ve only scratched the surface of what technology can do to improve the outlook over the years,” Lance says, and “this is the layer that can last for quite some time."

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