America Sitting on $50 Trillion in Oil and Gas?
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Advertisement“The shale revolution is misunderstood. Its demise has been overestimated. While 60% of the rigs are gone from the fields, we still through 2015 maintained record production levels. And what’s happened is that select wells on the basis of rapidly improving technology are increasing productivity and cutting costs,” White said.
This shale revolution, according to White, has been a game changer for the U.S. energy sector.
“The real victory of the shale revolution is access to what geologists call the source rock where the bulk of hydrocarbons lie,” said White.