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With Shale Oil Production Like This, Who Needs Trump?
- davidf18 10y ago"As Thomas Reed, chief executive of JKX Oil & Gas Plc, pointed out at last week's International Petroleum Week conference in London, horizontal drilling and hydraulic fracturing have both been in use in the oil industry for around 50 years. What is really new is not just combining the two techniques in a single well but, more importantly, the industrialization of the process of drilling and completing wells. The long lead-times, complex development plans and huge up-front capital requirements associated with conventional oil fields simply don't apply in the shale sector."
- lithos 10y agoUS and Canadian companies never stopped drilling in the oil slump. Instead they drilled down and left the last XX feet to the oil there/capped. That's one of the reasons that OPEC won't be as effective as they want to be. Of course if OPEC is that successful, I imagine the US will just find a way to export more instability to the region. Forcing them to need more income.
- SlipperySlope 10y agoTrump is the President holding back Cap and Trade fossil fuel legislation favored by progressives. Plus coal miners are a symbolic working class constituency that want Trump to end coal-burning regulations for US power plants. But OPEC is on a path to doom anyway because the perfect storm of electric vehicles and battery storage for utility scale wind / solar plants will likely cause a peak in transportation fuel demand in the 2020's. Trump's energy secretary Rick Perry will encourage this development.