SZO - Hypothetical Oil Shale Development And Implications For Future U.S. Supply
Hypothetical Oil Shale Development and Implications for Future US Supply
The unconventional oil shale revolution has taken the global crude market by storm. In the last decade, the US has increased production an astounding 7.0 MMbo/d from 5.4 MMbo/d to 12.4 MMbo/d, as innovation and new technologies (i.e., fracking, geosteering, drill bit, etc.) have unlocked vast quantities of new crude oil reserves. However, the actual size of this new supply is subject to much debate. For example, some theorize that as so called “Tier 1” inventory is exhausted, the rapid rise in US crude production