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The growth of new sources of oil, helped by the widening use of fracking, is expected to enable...

The growth of new sources of oil, helped by the widening use of fracking, is expected to enable the U.S. to halve its reliance on Middle East oil by 2020 and possibly eliminate it completely by 2035. By the end of the decade, 50% of oil will be produced domestically and 82% on this side of the Atlantic.
Comments (7)
  • Mike Walker
    , contributor
    Comments (297) | Send Message
     
    Optimistic view of shale oil impact in my opinion.

     

    These are high cost reserves with high depletion rates that just cant stand low oil prices over any extended period. I expect US companies to start announcing cutbacks to their drilling programs if oil remains below $80/BBL.

     

    The shale basins all have 'sweet spots' that produce well and the 'not so sweet' spots that are marginal/unprofitable even at $100/BBL. The sweet spots are drilled first of course - which is driving today's drilling activity.
    27 Jun 2012, 06:34 AM Reply Like
  • remurraymd
    , contributor
    Comments (2287) | Send Message
     
    Reduction of Federal Corporate tax with a new crew in DC
    that actually stops vilifying and taxing in draconian fashion
    the job creators that feed the US economy will enhance this process.
    27 Jun 2012, 06:48 AM Reply Like
  • bukdow
    , contributor
    Comments (834) | Send Message
     
    Only if Congress lets it happen. This is a great opportunity for the US that could give us a leg up for the next half-century.
    27 Jun 2012, 08:10 AM Reply Like
  • tahoe1780
    , contributor
    Comments (96) | Send Message
     
    I agree with Mike. FYI http://bit.ly/N2bmtd
    27 Jun 2012, 10:04 AM Reply Like
  • PalmDesertRat
    , contributor
    Comments (2656) | Send Message
     
    took some profits in iez today at 43.34
    27 Jun 2012, 11:53 AM Reply Like
  • deweyj
    , contributor
    Comments (14) | Send Message
     
    Where did this story originate? Why is there no reference to the author?
    27 Jun 2012, 01:39 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (2656) | Send Message
     
    bot some iez at 46.47
    6 Jul 2012, 10:08 AM Reply Like
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