Saturday, 13 September 2014

SHALE REVOLUTION TRANSFORMING THE WORLD

 Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil revolution. Thanks to the dual-deployment of horizontal well drilling and hydraulic fracturing, oil and gas firms have unlocked massive new reserves across the United States, completely transforming America's energy fortunes in just a matter of years. It's a common but very serious mistake to predict the future based on what holds true today. In this case, those who have predicted the demise of the shale revolution may soon be forced to eat their words. The pace of technological change is accelerating, redefining possibilities along the way. --Walter Russell Mead, The American Interest, 20 August 2014 (http://www.the-american-interest.com/blog/2014/08/20/refracking-ready-to-rejuvenate-shale-revolution/)

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