Thursday, February 6, 2014

Shale Oil And The U.S. Econmy

CNAS is a is a Think Tank that advises the Govt. on security issues facing the U.S. The scope of their recommendations are pretty broad. They recently published a paper on Shale Oil production in the U.S. While States like New York continue to moan about the dangers of fracking, other states are realizing major economic boons. As well this paragraph from the CNAS report is quite telling:

"The unconventional boom has also given the U.S.
refined-product sector a competitive global edge,
particularly over Europe. Shale oil produces plentiful
light grades of oil, which, when refined, deliver
greater gasoline and diesel supplies than do heavier
grades of crude. The new shale oil produced in the
United States is refined into more gasoline and
diesel at home, which reduces the need to import
these products from abroad. Also, U.S. refineries
configured to handle heavier, imported crude from
Canada, Mexico and Venezuela are sending more
of their refined products abroad because domestic
refined product needs are increasingly met by oil
drilled and refined at home. After more than 60
years as a net importer, the United States became
a net exporter of refined products in 2011.."

You can read and/or download the entire document here:

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