U.S. Energy Department Report Supports Shale Boom Credibility

U.S. Energy Department Report Supports Shale Boom Credibility

by dg@oilprice.com (Daniel J. Graeber)

The U.S. Energy Department said crude oil production from the United States could reach 7.5 million barrels per day before the end of the decade. Natural gas production, meanwhile, should increase to the point that the country becomes a net exporter of LNG. The report found most of the growth was from shale and other tight formations. Last month, shale opponents characterized U.S. growth predictions from the International Energy Agency as "dangerously false." Before the Energy Department's report, however, oil companies operating in some of the…http://oilprice.com/Energy/Crude-Oil/U.S.-Energy-Department-Report-Supports-Shale-Boom-Credibility.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+oilpricecom+%28Oil+Price.com+Daily+News+Update%29