-——Can Fracking Keep U.S. No.1 Oil Producer? -——
It doesn’t matter
-——Can Fracking Keep U.S. No.1 Oil Producer? -——
It doesn’t matter
..............
It does matter for at least the next decade —or until something else better comes along. The biggest most important thing is that fracking shifts capital flows around the world. Fracking steadily shrinks the size of the trade deficit. Fracking will steadily lower the cost of oil. Fracking will undergird the US economy —producing 2% economic growth alone— so that despite the tremendous screw ups of the Obama administration — the USA will stay afloat. Fracking contributes about 100 billion to federal coffers annually — shrinking the size of the federal deficit.
The authors believe based on their interviews with the big companies involved that the fracking revolution is only getting started.
I'm leaning that way myself. What does matter is the tremendous and disproportionate leverage the Middle East has had over the market for half a century. A lot of things change if it's broken. We'll see.