– In following years North America will harvest much profit in Shale boom

The UK’s Financial Times (1/17, Chazan, Subscription Publication) reports BP chief economist Christof Ruhl said other nations will be slow in following the US shale boom, and North America will be the dominant producer of shale products over the next 20 years. He argued other possible shale giants like China lack the combination of factors that have led to the North American shale boom, including favorable fiscal policies and a booming oilfield services sector to support exploration, extraction, and production of shale gas and oil. Still, global shale gas production levels will triple by 2030 and shale oil will grow six times its current global production level.

Original Article:

by GS Don Morris, Ph.D./Chana Givon