Drumbeat: November 21, 2012


Will the U.S. Surpass Saudi Arabia in Oil Production?

Don’t misunderstand. The amount of oil on Earth is finite, and it could become depleted some day— in practical terms— particularly if consumption continues to increase exponentially in the near term. However, if the IEA prediction proves accurate, it ain’t over yet. Price increases and technological innovation still matter, a lot.

The IEA’s estimate for the U.S. is a bold prediction. It may be close … or not. Although wildly successful since 2004, horizontal drilling and hydraulic fracture to recover tight oil and shale gas remain relatively young technologies ...

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