Author : Nick Cunningham
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (866 download)
Book Synopsis The U.S. Tight-oil Boom by : Nick Cunningham
Download or read book The U.S. Tight-oil Boom written by Nick Cunningham and published by . This book was released on 2013 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advancements in hydraulic fracturing and horizontal drilling have already unlocked vast new natural gas resources from shale rock. Drillers are using the same innovations that brought about the 'Shale Gas Revolution' for oil, leading to a surge in shale oil production. This has had several short-term geopolitical effects. It has provided some breathing room to allow tougher sanctions on Iran. It has reduced the revenues and influence of OPEC. It has also added some spare capacity to global oil markets, reducing volatility. However, despite some of these short-term geopolitical benefits, the U.S. tight oil boom does very little for long-term energy security. The longevity of the tight oil boom is unknown. Greater oil production does not insulate American consumers from gas price spikes. And a surge in oil production threatens to head off action on climate change, delaying the transition to cleaner energy.This paper highlights these contradictions, the U.S. tight oil boom has short-term geopolitical benefits, but over the long-term it does not provide real energy security.