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The US Shale boom isn't close to being over

2 monthes ago   |   By Business Insider

Andrew Burton/Getty
The number of units the US will produce in one month would break a record.
But there are still shale issues, even with the boom.
Capacity is one factor to look out for.
Shale oil production in the United States will rise by a record-breaking 144,000 bpd from May to June, hitting 7.178 million bpd, the Energy Information administration estimated in its latest Drilling Productivity Report.
Hardly surprisingly, the Permian will lead the way with a 78,000-bpd increase in production, from 3.199 million bpd this month to 3.277 million bpd in June. The Permian will be followed...
Read more ...

 

$100 oil isn't as painful as it used to be

$100 oil isn't as painful as it used to be

2 monthes ago   |   By Business Insider

Andrew Burton/Getty
In the past, high oil prices weighed on the US economy but the shale revolution has made the US one of the largest oil producers.
Higher oil price now redistribute wealth within the US and narrows the impact on the oil trade deficit.
Compared to the past, high oil prices may have more of a neutral effect on the economy.
Watch oil trade in real-time here.
Brent is nearing $80 per barrel and some analyst see $100 not far off. That raises the question about how much of a dent high oil prices will make in the U.S. economy.
$100 oil is not as painful as it once was. There...
Read more ...

 


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