from The Daily Bell:
US shale energy creates global oil ‘supply shock’ … Booming oil production in North America brought on by the shale energy revolution has created a global “supply shock” that is reshaping the industry, the International Energy Agency said on Tuesday. Shale’s inexorable rise could see the US cross over from being the world’s leading importer of oil to a net exporter within the next few years. – Telegraph
Dominant Social Theme: This stuff works and ain’t capitalism great?
Free-Market Analysis: We’re puzzling about why fracking has been applied now by the industry when the basics of fracking have been fairly well understood since the 1940s.
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