Many businesses these days are built around "green" technologies, and/or assumptions that energy is rapidly becoming harder to find and more expensive.
What if that assumption is false?
According to a report in an investing newsletter I get, the game is about to change. New remote-sensing technologies, improved deep- and horizontal-drilling techniques, and hydraulic fracking are opening up unbelievably huge oil reserves in the US -- often in (or under) old and supposedly played-out fields.
Some pertinent quotes from the newsletter:
... [US government statistics say our current *proven*] onshore oil reserves are less than 15 million barrels. But in fact, the Bakken field of Montana and North Dakota alone likely holds more than 20 billion barrels. And Eagle Ford likely holds more than 20 billion barrels, too. Likewise, the Marcellus field in western Pennsylvania and New York probably contains more than 20 billion barrels. Each one of these fields will double our country's current existing reserves. And that's not even counting the smaller shale plays like the Niobrara/Wattenberg. ...
... the CEO of [the main company developing] the Bakken shale fields ... scoffs at the official U.S. Geological Survey estimate of 4 billion-5 billion barrels of reserves in the Bakken. "No way," he says. "We estimate that the entire field, fully developed, in Bakken is 24 billion barrels. Bakken is almost twice as big as the oil reserve in Prudhoe Bay, Alaska." ...
... most of the world's best shale resources are located in North America. These new fields, believe it or not, position us to become a global exporter of energy – and probably the world's largest exporter.
For the first time [in decades], U.S. oil is now flowing out of Cushing, Oklahoma destined for the global market. New pipelines, new export terminals, and new ships will all be built over the next decade to deliver U.S. crude and natural gas to the world, reversing a 60-year trend of U.S. energy dependence.
Goldman Sachs came out with its forecast this week, too. It now says America will be the world's largest crude oil producer by 2017 – surpassing even Saudi Arabia.
How would that change the business landscape, especially in the US?
What if that assumption is false?
According to a report in an investing newsletter I get, the game is about to change. New remote-sensing technologies, improved deep- and horizontal-drilling techniques, and hydraulic fracking are opening up unbelievably huge oil reserves in the US -- often in (or under) old and supposedly played-out fields.
Some pertinent quotes from the newsletter:
... [US government statistics say our current *proven*] onshore oil reserves are less than 15 million barrels. But in fact, the Bakken field of Montana and North Dakota alone likely holds more than 20 billion barrels. And Eagle Ford likely holds more than 20 billion barrels, too. Likewise, the Marcellus field in western Pennsylvania and New York probably contains more than 20 billion barrels. Each one of these fields will double our country's current existing reserves. And that's not even counting the smaller shale plays like the Niobrara/Wattenberg. ...
... the CEO of [the main company developing] the Bakken shale fields ... scoffs at the official U.S. Geological Survey estimate of 4 billion-5 billion barrels of reserves in the Bakken. "No way," he says. "We estimate that the entire field, fully developed, in Bakken is 24 billion barrels. Bakken is almost twice as big as the oil reserve in Prudhoe Bay, Alaska." ...
... most of the world's best shale resources are located in North America. These new fields, believe it or not, position us to become a global exporter of energy – and probably the world's largest exporter.
For the first time [in decades], U.S. oil is now flowing out of Cushing, Oklahoma destined for the global market. New pipelines, new export terminals, and new ships will all be built over the next decade to deliver U.S. crude and natural gas to the world, reversing a 60-year trend of U.S. energy dependence.
Goldman Sachs came out with its forecast this week, too. It now says America will be the world's largest crude oil producer by 2017 – surpassing even Saudi Arabia.
How would that change the business landscape, especially in the US?
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