Gas utilities are pleased as punch to see an oversupply of shale gas depressing domestic prices, as they’ve struggled to refill storage capacities in the wake of last year’s historically cold winter.
The United States looks ready to surpass Saudi Arabia as the number one producer of liquid petroleum for the first time in some 23 years. Who saw this coming?
Russia requires high oil prices in order to balance its budget, but crude prices have been dropping recently, despite supply disruptions in the Middle East and North Africa. What’s at play? In a word, fracking.
The head of the Energy Information Administration said in a recent interview that without new supplies of American oil, supply disruptions abroad would have sent the price of oil skyrocketing by as much as 50 percent. As if we needed another reason to be thankful for the U.S. shale revolution.
The Department of Energy just gave the final go ahead for two new liquified natural gas export terminals in Florida and Louisiana. America’s shale gas is going global.
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