14 May 2013
The case for caution on sustainability of US shale oil
Analysts argue that while US unconventional crude output is surging, the industry needs to take a closer look at the sector's sustainability
The rise of tight oil in the US has been remarkable, but is it sustainable? Analysts took on that question this week at Platts' Crude Oil Summit, with many arguing that the sector still faces a number of challenges that could yet derail the tight oil boom. Surging production from shale plays such as North Dakota's Bakken and Texas' Eagle Ford will make the US the world's largest liquid fuel producer this year when biofuels and natural gas liquids are taken into account, Christof Rühl, BP's chief economist, said at the conference. US oil production was 7.17 million barrels a day (b/d) in February this year, the highest level since the early 1990s. Around 2 million b/d of that was produced fr
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