“The shale gas revolution, which has already transformed the United States and Louisiana into manufacturing powers, will vastly alter the world’s energy landscape by 2035, a BP executive said Tuesday.
Shale production will help make the United States a net exporter of natural gas in 2018, with exports growing to 10.6 billion cubic feet per day by 2035, said Mark Finley, general manager, global energy markets and U.S. economics, for BP.
Increases in U.S. oil production the past two years were among the largest in history. ‘The numbers here are staggering,’ Finley said.
Last year’s increase was the fourth-largest ever worldwide. Only Saudi Arabia has ever increased production by more.” – theadvocate.com
Over 63,000 shale gas and shale oil (tight oil) wells in the U.S. were analyzed in the effort to produce the map below. Mouse over any well to find production data on both the well and the play as a whole, or type in a location to see what wells are nearby. View full screen map here.
America’s dramatic progress with shale has inevitably captured the attention of Canada, Europe, Australia and Asia, who will all follow suit in some way. Some already have. Geopolitically, recent troubles suggest the possibility that shale could be a key resource to counter Russia’s control of Europe’s energy supply. All big news.
We think: the shale boom could provide the world with energy for many years to come, while creating jobs and opportunities, but perhaps at a cost. By exploiting shale on a massive scale, America is knowingly exchanging a known short-term risk to energy security for an unknown long-term risk to water security. Is it a good bet? It’s impossible to say: no one really knows the odds yet. As the vernacular poet Don Rumsfeld once said, there are known unknowns. But it’s a necessary bet. America has no choice but to exploit shale and make a play for energy independence.