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US shale oil supply shock
shifts global power balance

BBC-UK, by Staff

Original Article

Posted By:Rafter, 5/14/2013 1:26:54 PM

A steeper-than-expected rise in US shale oil reserves is about to change the global balance of power between new and existing producers, a report says. Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA). {snip}The surge in US production will reshape the whole industry, according to the IEA {snip} The IEA said it expected the US to overtake Russia as the world´s biggest gas producer by 2015 and to become "all but self-sufficient" in its energy needs by about 2035.

Comments:
Whatever happened to "Peak Oil"... ?
Remember that... a few years ago... ?
Must have been yet another delusion by the
hallucinating Nancy Peyote and her friends.
Now we can anticipate Freak Oil... (ok, frack oil)...
And that´s freaking out the wacko-nuts, Big-Time.

      


Post Reply  

Reply 1 - Posted by: Dante, 5/14/2013 1:35:32 PM     (No. 9326754)

And this is with the disgraceful Feds still blocking access to a substantial amount of land.

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Reply 2 - Posted by: curious1, 5/14/2013 2:28:42 PM     (No. 9326882)

Yeah, they can block access to federal land, but not state land. Too bad, feddies.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: oh-heck, 5/14/2013 2:42:37 PM     (No. 9326910)

Imagine if the administration hadn´t blocked drilling in Alaska, the Gulf of Mexico, and the east coast. If production in Alaska falls below a critical level, the pipeline will need to shut down, instantaneously stopping something like 300,000 barrels per day.

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Reply 4 - Posted by: pineledger, 5/14/2013 2:45:23 PM     (No. 9326919)

Nonetheless, prices are headed back up for Memorial Day weekend.

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Reply 5 - Posted by: Safari Man, 5/14/2013 2:52:38 PM     (No. 9326934)

This is good news. But can anyone recommend how we can invest to best take advantage of this?


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Reply 6 - Posted by: Submariner, 5/14/2013 3:14:23 PM     (No. 9326965)

#5: vote Republican or libertarian.

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Reply 7 - Posted by: Submariner, 5/14/2013 3:15:21 PM     (No. 9326968)

All kidding aside, invest in oil service companies like Halliburton or Schlumberger.

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Reply 8 - Posted by: artman1746, 5/14/2013 3:38:33 PM     (No. 9327018)

The left hates that the U.S. would become independent. And more prosperous.

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