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shale

  “Peak Oil.” For years, people ascribed to the theory that the United States and the world was quickly running out of oil. In the U.S., this idea was widely accepted becausfor decades, U.S. oil production had been declining, while natural gas production had essentially flat lined. As the following charts indicate:     But something changed and over the past decade or so, the U.S. has seen a massive increase in both oil and natural gas production. This drastic shift in production is known as the “shale revolution” as the influx in production has largely come from the development of shale resources. As the U.S. Energy Information Administration notes, “the combination of horizontal drilling and hydraulic fracturing has provided access to large volumes of oil and natural gas that