Commodity Trade Mantra
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Posts Tagged ‘Energy Independence’

The US Shale Oil Miracle Disappears

The EIA has placed a hefty downward revision on its estimate of the amount of recoverable oil in the #1 shale reserve in the US, the Monterey in California. EIA now estimates these reserves to be 96% lower than it previously claimed. Only 4% of the original estimate is now thought to be technically-recoverable at today’s prices.

With prospects that Russia may cut natural gas supplies to Ukraine & western Europe in retaliation for Kiev’s Feb revolution, America’s shale gas boom is taking on fresh geopolitical significance. Exports of natural gas to Europe could weaken or eliminate Kremlin’s leverage over Ukraine & Europe.

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