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Frack Baby Frack
Foreign Shale Success a Question of When, Not If
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  • Jacksonian_Libertarian

    The fact is most oil is developed by independent companies free of the influence of the Government Monopoly. With few exceptions most of OPEC’s oil was stolen by the local Government Monopolies from the western oil companies that developed the oil fields. With oil prices now falling, the opportunities to develop shale in other countries just got much harder. As what company is going to spend the time and money to develop in a foreign country, when there is much less risk and higher profits to be made in the already known American shale. That China and other countries are seeking to buy American expertise and proprietary knowledge, means that they recognize their own incompetence, and accept the increase in development costs. They will never be competitive and will have to operate at a loss compared to the American developed shale oil.

    • LoachDriver

      I’d not write off the Chinese efforts so quickly; they are a bright & hard-working people with the money to buy expertise & tech.

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