Texas Shale Can Beat Saudi Arabia

[Economy 52,858]

https://www.google.ca/amp/www.telegraph.co.uk/business/2016/07/31/texas-shale-oil-has-fought-saudi-arabia-to-a-standstill/amp/

 

Improvements in technology and efficiency gains have reduced the cost of producing Shale as we all know.

 

But in the permian basin in Texas which is the most productive and cost effective of all the Shales, production costs in some areas are lower than Saudi Arabias break even costs.

 

Pioneer claims production of oil in the permian can rise from the current 2M barrels a day to 5M barrels a day if prices rise to only $55/barrel

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Coming from someone who lived through the pinnacle height of the Marcellus Shale (now that most operations are slowing and pulling out), this is bad bad news for the local Texans. Albeit an area where nuclear/coal plants breed rampant, the presence of the competing oil industries were manipulative to cutthroat and only resulted in irreparably polluted water, incessant sinkholes and unprecedented quakes. And enough ignorant misinformation to blissfully kill thousands. I know fossil fuels are still a necessity but these oil booms have become explosively aggressive and detrimental to local ecosystems, human or otherwise.

[Solitaire 902]

YAAASSSSS @ my home state being single handledly capable of disrupting the world wide fossil fuel industry.

1 hour ago, RiHoGaga said:

Coming from someone who lived through the pinnacle height of the Marcellus Shale (now that most operations are slowing and pulling out), this is bad bad news for the local Texans. Albeit an area where nuclear/coal plants breed rampant, the presence of the competing oil industries were manipulative to cutthroat and only resulted in irreparably polluted water, incessant sinkholes and unprecedented quakes. And enough ignorant misinformation to blissfully kill thousands. I know fossil fuels are still a necessity but these oil booms have become explosively aggressive and detrimental to local ecosystems, human or otherwise.

As a native Texan, I can assure you that the laws and oversight that the state of Texas has in place will prevent anything horrible like those things happening. I've lived in some of the MOST oil rich parts of the state and nothing horrible he happened.