The US opportunity

A widely reported projection by the International Energy Agency draws public attention to what professionals in the oil and gas industry already know: that the energy-supply outlook for the US has changed dramatically for the better. Development of hydrocarbon resources in shales and other low-permeability reservoirs, all but impossible before recent technological advances, raises the promise of production rates heretofore unthinkable. Combined with rising output of bitumen in Canada, the new supply is reshaping global oil trade. It's attracting investment for resource development and reinvigorating manufacturing industries that use natural gas, newly abundant and cheap, as feedstock and ...

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