I think that adds to the dependability of the chart. I am not arguing against Bakken, Eagle Ford, Permian Basin, Utica, etc in any way. I think the production is going to continue to grow, jobs are going to grow, imports are going to shrink, energy independence is going to grow.
What I do argue against, is a dramatic and lasting price drop because this technology. The Supply/Demand curves are real and if we see a significant, lasting price drop, the drilling will drop and following that, the productions will start to drop. Just like Natural Gas in the country.
The very next page of the presentation in the linked PDF talks about the strong positive economics of these wells.
Did you see any basis of that economics using a falling price? Those number are based on current pricing.
I agree that these wells will not dramatically drop the price of oil/gas. I think they will stabilize the price.
The benefit to the US economy will be dramatic, and positive.
I also think that the “green” energy approaches are dead in the water, due to this relatively low-priced domestic source of energy.
Green energy cannot compete at these prices.
The socialists are upset their pet (crony) projects in their central planning economy are failing. (Their solution is to heavily tax oil based energy and give tax credits to “green” projects. It still won’t work, because of the relatively low-cost of Bakken and other tight formation oil and gas.)