Shale oil surely will help the U.S. economy, but it's expensive to get out of the ground, and the amount the fields actually can deliver has been oversold, James Hamilton writes. Annual production increases require not just new wells but an increasing number of new wells each year, but the number of new wells that can plausibly be drilled each year and the number of available well locations are limited.
Shale oil surely will help the U.S. economy, but it's expensive to get out of the ground, and...
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