The article gives me an overall negative feeling about shale oil. It has been my understanding that it is a necessary component of the total global oil supply. Putting aside the Exxon issue how important is shale oil for the next few decades?
You are right. It is an important part of the world oil market. Our problem with shale is its growth. It produces only one type of crude that US refineries do not want. If US exports continue to grow, foreign refineries will hit a refining wall too. Then what?
The article gives me an overall negative feeling about shale oil. It has been my understanding that it is a necessary component of the total global oil supply. Putting aside the Exxon issue how important is shale oil for the next few decades?
You are right. It is an important part of the world oil market. Our problem with shale is its growth. It produces only one type of crude that US refineries do not want. If US exports continue to grow, foreign refineries will hit a refining wall too. Then what?
Trying to figure that out.