Op-Ed: U.S. Shale Revolution is Special and Beneficial
From the Cleveland Plain Dealer:
To grasp just how remarkable America's shale revolution is, consider that no country on any other continent has yet to replicate it.
This energy boom has put the United States in the driver's seat globally for oil and natural gas production and economic growth. The innovative use of horizontal drilling and multistage hydraulic fracturing (fracking) used to produce natural gas for the first time in the Barnett shale in North Texas 10 years ago has exceeded anything that had been expected.
Since that historic breakthrough, the oil and gas industry has embarked on unconventional energy production in the Marcellus shale in Pennsylvania and West Virginia, the Utica shale in Ohio and a half-dozen other shale formations across the country, ranging from Arkansas to Colorado. And now new innovative technologies are being developed to tap the enormous Monterrey shale in California. With all this going on in the United States, other countries can only look on in awe.
The fact that people in the oil and gas business now talk about America's exceptionalism should not be surprising. Despite continued uncertainty on oil and gas prices, shale production promises to remain robust in the years ahead. One reason is that drillers have started to use methods employed by manufacturing industries to cut costs.Continue reading this article by clicking here.
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