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Commodities Briefing - Categorized | Market Moves, Oil more

Is it time for the U.S. to join OPEC?

Posted on 16 November 2012

The announcement by the International Energy Agency that the U.S. will surpass Saudi Arabia in oil production by 2020 is testimony to the power of technology to change an industry.
The U.S. is developing so-called tight oil reserves, including the huge Bakken shale formation in Montana and North Dakota, by extracting the oil through hydraulic fracturing and horizontal drilling, techniques that weren’t available 30 years ago………………………………………..Full Article: Source

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VRS - who has written 38561 posts on Opalesque Commodities Briefing.


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