The hardcover book is already a bestseller on amazon, and our news today is that the audio version has just been published. Saudi america by bethany mclean columbia global reports. The shale oil extraction revolution has dramatically impacted u. In the book, each one of these developments is a domino. A comprehensive guide to understanding oil oil prices, crude oil prices, shale oil, gas, oil and gas, consumer economics, oil refinery, oil and gas. Not only has americas oil and gas production soared. Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis, hydrogenation, or thermal dissolution. It was inevitable that the same thing would happen to crude oil. Further chapters include case studies on the shale gas revolution in the. Shale oil refers to hydrocarbons that are trapped in formations of shale rock. Just about everyone has heard something about the revolution in shale oil. The risks, benefits, and uncertainties of the shale revolution.
Apr 14, 2020 thus, the imminent reckoning for shale oil in the u. Although the shale revolution has provided a reprieve from what just 15 years ago was thought to be a terminal decline in oil and gas production in the u. These processes convert the organic matter within the rock kerogen into synthetic oil and gas. In the first part of the book zeihan indicates how the u. The shale revolution refers to the combination of hydraulic fracturing and horizontal drilling that enabled the united states to significantly increase its production of oil and natural gas, particularly from tight oil formations, which now account for 36% of total u. David hughes, the report utilizes the latest available data from both industry and government sources to quantify the impact of recent technological advances.
In light of this, bnef estimates that producers in the permian, the u. The american empire mistakenly believes the shale oilgas. Download it once and read it on your kindle device, pc, phones or tablets. Oct 20, 2019 shale oil refers to hydrocarbons that are trapped in formations of shale rock. Gas markets have also been upended by the shale revolution. These oil majors were mocked for nearly missing the shale revolution when they lost out to fastermoving independents a few years ago, but in the years since, theyve purchased hundreds of thousands of acres in west texas, investing billions in land, rigs and drilling programs. In this book, daniel raimi gives a balanced and accessible view of oil and gas development, clearly and thoroughly explaining the key issues surrounding the shale revolution. Oil markets are not the only place that shale producers have made their mark. The shale gas and tight oil boom council on foreign relations. Oil shale is an organicrich finegrained sedimentary rock containing kerogen a solid mixture of organic chemical compounds from which liquid hydrocarbons can be produced, called shale oil not to be confused with tight oil crude oil occurring naturally in shales. Exploration and environmental and economic impacts explores the shale gas exploration and production activities that are increasing globally, also presenting a basic understanding on the geological, geochemical, and geophysical aspects. Shale gas, tight oil, shale oil and hydraulic fracturing. Oil shale is an organicrich finegrained sedimentary rock containing kerogen a solid mixture of organic chemical compounds from which liquid hydrocarbons can be produced, called shale oil not to be confused with tight oilcrude oil occurring naturally in shales.
These processes convert the organic matter within the rock into synthetic oil and gas. The resulting oil can be used immediately as a fuel or upgraded to meet refinery feedstock specifications by adding. The book includes the history of shale gas development, the technology used to economically recover hydrocarbons, and descriptions of the ten primary shale gas resources of the united states. The us shale revolution wont stall despite headwinds, global oil experts say published mon, nov 11 2019 5.
The shale gas revolution challenges the coal industry, renders new nuclear plants uneconomic and changes the economics for the renewable energy companies, which are now much further from viability. International shale resources, environmental concerns, and policy issues are also addressed. Books, films, and other resources fracking hydraulic fracturing. The shale revolution is the most politically disruptive factor in the global oil market since the formation of opec in 1960, says edward morse, head of commodity research at citigroup. Shale gas has become the focus of global natural gas exploration, and shale oil plays an important role in unconventional oil and gas exploration. And, it seemed to be successful as many shale oil operations shut down at least temporarily. Shale gas was first extracted as a resource in fredonia, new york, in 1821, in shallow, lowpressure fractures. The fracking debate directly addresses the most common questions and concerns associated with fracking. It is the newest and most extensive of hughess highly regarded. The shale revolution the extraction of gas and oil from previously inaccessible reservoirs has been declared an energy game changer. Check out the new look and enjoy easier access to your favorite features. By 1986 production had fallen to 16 tcf, but in 2005 had recovered a bit. Oil companies produce shale oil by fracturing the rock formations that contain the layers of oil.
Databases, films, books, and other resources on fracking and its impact. The book is one in a series from columbia university that aims to give fresh views of. Jun 18, 2018 the shale of the shale revolution is what petroleum geologists call the source rock a kind of cradle in which crude oil and natural gas are formed over millions of years deep within the. Which companies are the biggest shale players in the u. The structure of technological revolutions conclusion endnotes contents 1 3 6 6 8. Shale oil and gas exploration and development prospects and. The shale revolution is a madeinamerica success story. Nov 04, 2011 the shale gas revolution challenges the coal industry, renders new nuclear plants uneconomic and changes the economics for the renewable energy companies, which are now much further from viability. Fracking is a process that oil companies use to drill down into the layers of shale and open up the rock formations. Hydraulic fracturing fracking of rock formations unique to the united states offers the promise of cheap and abundant energy, terrific economic growth and jobs lots of jobs. Snake oil casts a critical eye on the oilindustry hype that has hijacked. Us shale revolution wont stall despite headwinds, oil. Receive daily insights from george friedman and our team of analysts that will open your eyes to.
Plenty of literature exists taking a partisan view on fracking and oil and gas in. The book also examines the issues regarding the nature of shale gas development, the potential environmental impacts. Opinion the shale gas revolution the new york times. Seeking energy dominance the shale boom could prove a. David hughes is an earth scientist who has studied the energy resources of canada for four decades, including 32 years. There have been 30 dominoes since the shale revolution started. Oil price collapse is opec, russias revenge against shale. The shale gas boom is hardly a revolution as most shale gas producers arent close to breaking even and are actually making a loss on current production. The author manages to discuss recent oil resource trends around the world in a way that is heavy with data and diagrams, but also accessible to people that havent followed the specifics of the shale oil revolution. As of 20, the us, canada, and china are the only countries producing shale gas in commercial quantities.
Shale gas and tight oil describes the remarkable new energy resources being obtained from shale gas and tight oil through a combination of directional drilling and staged hydraulic fracturing, opening up substantial new energy reserves for the 21st century. The myth of saudi america is a must read for anyone in america connected in any way, either as a passive investor or as an active operator, with the business of drilling and producing oil and gas. Faced with declining natural gas production, the federal government invested in many supply alternatives, including the. Driven by the dramatic collapse of us shale, the trump. The potential to produce oil and gas from lowpermeability tight rocks has expanded rapidly over the last 2 decades.
Over that time, drilling and stimulation technology have advanced, enhancing the ability to produce oil and gas from these impermeable rocks through precise directional drilling, massive multistage hydraulic fracturing, and microseimsic monitoring. Shale oil is a substitute for conventional crude oil. On page 46, he shares a graph that indicates the u. Its a refreshing riderefreshing because you get the clear sense you are learning with the author as he seeks the truth about the shale boom. Shale oil february 20 1 executive summary shale oil light tight oil is rapidly emerging as a significant and relatively low cost new unconventional resource in the us.
May 15, 2019 it is our mission to identify and understand the geopolitical events that are shaping the worlds future. Dec 01, 2017 the fracking debate provides the evidence and context that have so frequently been missing from the national discussion of the future of oil and gas production, offering readers the tools to make sense of this critical issue. The book is a key reference that is useful for researchers, the oil and gas industry, and policymakers in gas producing and prospective countries. Shale oil is a highquality crude oil that lies between layers of shale rock, impermeable mudstone, or siltstone. Recently the most important driving force for the rapid growth of crude oil production in world is the shale oil revolution in the united states, whose rapid development has made profound impact on. S federal price controls on natural gas led to shortages in the 1970s. The threats to global oil supplies are well known, reading like a laundry list of the worlds hotspots afflicted by sanctions, strife and civil war but over the past. This article was originally published july 16, 2016 and updated may 12, 2017. Theory, technologies, and challenges provides users with information on how shale oil and gas exploration has revolutionized todays energy industry. The shale revolution and a world without america kindle edition by zeihan, peter. Although shale oil production began to tail off last year in north dakotas bakken field and eagle ford in south texas, the energy. Raimi acknowledges that even during the writing of this book, many of the. Nov 05, 2016 what does the usa shale oil revolution mean for oil prices.
Shale oil s impact will have huge implications for global energy markets for many years, fatih birol, executive director at the international energy agency, told cnbc on tuesday. The book is a key reference that is useful for researchers, the oil and gas industry, and. May 01, 2019 this report provides a realistic assessment of future production in the the top ten tight oil and shale gas plays in the united states. Deep shale oil and gas provides an introduction to shale gas resources as well as offer a basic understanding of the geomechanical properties of shale, the need for hydraulic fracturing, and an indication of shale gas processing. A clear and concise portrait of the us shale revolution. The resulting oil can be used immediately as a fuel or upgraded to meet refinery feedstock specifications by adding hydrogen and removing impurities such as sulfur and nitrogen. David hughes is an earth scientist who has studied the energy resources of canada for four decades, including 32. I often have the opportunity to tell this story to groups of investors, and as an immigrant from britain i.
Shale gas and tight oil describes the remarkable new energy resources being obtained from shale gas and. As for the economic impacts of the shale revolution, although fracking. These horizontal laterals can be 5,000 to 10,000 feet in length, and hydraulically fracturing them enabled economic oil and gas production for the first time from shale. The us becomes the largest gas producer in the world and the. Wall street tells frackers to stop counting barrels, start. The revolution is the product of advances in oil and natural gas production technology. The shale revolution has stimulated tremendous production of oil and natural gas in the united states. What does the usa shale oil revolution mean for oil prices. Over roughly the past decade, oil and gas production in the united states has surged dramaticallythanks largely to technological advances such as highvolume hydraulic fracturing, more. The us governments forecasts of tight oil and shale gas production through 2050 are. There is potential for shale oil production to spread globally over the next couple of decades. Mar 09, 2020 fourth, this oil price war reveals that the shale revolution brings the united states not only significant economic and geopolitical strengths, but new vulnerabilities as well. The fracking debate cuts through the thicket of questions and viewpoints surrounding the shale revolution with balanced evidence and insight delivered through engaging stories.
While us gas exports via pipeline have increased since 2000, the commencement of us lng exports in 2016 was a seminal event, turning the us into an lng exporter and helping drive changes in global lng markets. Thus, the main beneficiary of the us shale oil revolution has been not gasoline consumers or, for that matter, domestic shale oil producers, but the us refining industry, which enjoys a competitive advantage compared to diesel and gasoline producers abroad because of its access to lowcost crude oil. Shale oil and gas exploration and development prospects. Us shale boom has blunted impact of global oil threats. Use features like bookmarks, note taking and highlighting while reading the absent superpower. Several studies use global econometric models to estimate wider economic implications of the shale oil revolution pwc, 20, whereas a few focus on the impact on oil. Apr 24, 2015 the shale revolution is the most politically disruptive factor in the global oil market since the formation of opec in 1960, says edward morse, head of commodity research at citigroup. Nov 14, 2017 the american shale revolution has put the u.
The shaleoil revolution boosted production and made america the worlds oilandgas champion. Jun 04, 2018 the shale revolution reflects americas dynamic capitalist economy at its very best. The complete story of the shale revolution, the fight over fracking, and the future of energy. Marcellus, utica, haynesville, woodford, barnett, fayetteville length. These technologies allowed barnett shale to be the. For gas generated by oil shale pyrolysis and also referred as shale gas, see oil shale gas.
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