The Two Oil Production Revolutions and What They Mean for the Price of Oil, Politics, the Economy, and the Environment
by Voxeu.org
– this post authored by Roberto F. Aguilera and Marian Radetzki
Appeared originally at Voxeu.org 17 August 2016.
After decades of oil price rises, new extraction techniques for shale and conventional deposits mean that recent dramatic price falls will be here to stay. This column argues that, even with oil at $50 a barrel, global producers will invest to catch up with US-led technological innovation and so add 40 million barrels a day to production by 2035. This will revolutionise domestic energy policymaking, environmental commitments and global geopolitics.
Source: http://econintersect.com/a/blogs/blog1.php/the-two-oil-production-revolutions
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