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The Biggest Problem Behind The U.S. Shale Boom
U.S. shale production is expected to continue to soar well into the 2020s. And that is a major problem. Over the past decade, U.S. oil production has more than doubled, surging from 5 million barrels per day (mb/d) to close to 12 mb/d today. Natural gas also rose significantly, rising from 21 trillion cubic feet per year (Tcf/y) in 2008 to 29 Tcf/y in 2017. Natural gas has been likened to a “bridge fuel,” allowing the U.S. to lower greenhouse gas emissions (GHG) while it transitions to cleaner energy. Cheap shale gas has killed off a lot of coal plants, and with a GHG-profile half that of coal, the switch has ... (full story)