While growth in the petrochemical sector is helping some engineering and construction companies, a recent Wood Mackenzie report, for instance, shows that $1.5 trillion in pending North American shale projects are not profitable with oil at $50 a barrel.
Light, sweet crude flowing out of the Eagle Ford would attract higher, premium prices on the world market, if those oil exports weren’t prohibited by U.S. trade policy, a Rice University study concludes.
As global energy demand rises, the United States must do a better job making its oil boom sustainable in places like the Bakken Shale, where fractured wells recover just 4 percent of the underground resource, a Rice University official said Wednesday.
Charles McConnell, a former U.S. assistant secretary for fossil energy, said his job entails bolstering the university’s relationships with industry giants such as Exxon Mobil Corp., Royal Dutch Shell and BP.
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