The Desert Sun

US Shale Oil Boom Calms Global Oil Prices, Retains Availability
The Desert Sun

What the Obama Administration either fails to understand, or is oblivious to, is that the world is increasingly dependent on America’s three year-old “fracking” boom that has lifted U.S. oil production by about three million barrels per day to more than eight million barrels currently. Simultaneously, Canada has added another one million BPD, almost exclusively from the “tar sands” of Alberta Province’s Athabasca region. Building the Trans-Canada XL oil pipeline would obviously accelerate Canadian crude shipments to U.S. Gulf Coast refineries, building America’s daily crude oil availability to over 10 million barrels per day, likely topping today’s leaders, Russia and Saudi Arabia.

This is of particular importance, as the Middle East and North African oil fields have retracted by an estimated 3.5 million BPD, due to civil wars in Libya, disturbances in Iraq, civil war in Syria, ideological tribal strife in Nigeria, and sanctions imposed against Iran. Also, with Europe depending on Russia’s oil and natural gas pipelines relying on 30% of their crude oil, sanctions or other economic punitive actions against Russia, would wreak turmoil on the European economy, already teetering on the edge of a new recession.

According to reliable energy experts, the breakdown in oil supplies previously indicated would rise from the current $106 per barrel for West Texas Intermediate, and approximately $115 for Brent crude to an estimated $150 to accommodate universal crude oil needs, were it not for America’s “fracking surge.”

Vous avez bien lu, sans le pétrole de schiste américain, on estime que le prix du baril de pétrole passerait ~110$ à ~150$. Si pareille chose devait se produire, c’est la récession assurée.

Heureusement pour nous, au sud de la frontière des gens ont été assez brillants pour dire « oui » au pétrole de schiste !