US May Hold Large Reserves Of Shale Oil, But Is It Economically Out Of Reach?

There is a lot of talk recently that "tight oil" as found in North Dakota's Bakken and other shales in the Southwest will save America from stagnant global oil production and increasing gasoline prices. The current glut of natural gas which has brought prices to a 10-year low has forced companies drilling for gas to curtail their activity and move the crews and rigs to North Dakota and Texas where money can still be made in drilling for shale oil. New well completions in North Dakota are expected to surge again this year. A recent pronouncement…

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