Without innovations in the field of horizontal drilling, hydraulic fracking and
micro-seismic imaging, shale oil production would have been at a lower level and
at a higher price. Since technological improvements have not only an influence on
the exploitation material but also on better prospecting techniques both are
displayed within the same dimension in this actualized model. The use of far
more precise maps, which are now obtained through the use of satellites and
sonar systems, illustrates very well the latter. Unless new promissory shale oil
deposits are found shale oil production is expected to decrease in the 2020s.
Technological breakthroughs in the field of extraction and prospection could play
a main role to reverse this expectancy.
On the X-axis of the three-dimensional model one finds the new additional
influencing factors, namely jurisdiction, ecology and politics. Although those
key-elements were for a long time considered as minor, at present they are judged
as ineluctable in the framework of a sustainable exploitation of shale hydrocarbons.
Environmental awareness and jurisdiction could mean a drastic slow down for the
exploitation of oil and gas shale. In order to keep pollution in acceptable ranges
legislation protecting the environment could oblige (local) authorities to control
very carefully future exploitations and deliver exploitation licenses very strictly. On
the other hand it is also important that the environmental standards be the same for
all projects. Powerful companies could be tempted to shirk these standards.
References
Abu-Obayda Y (2016) Is the world’s shale oil boom ending soon? Vrije Universiteit Brussel,
Brussel
Allcott H, Keniston D (2014) Dutch disease or agglomeration? The local economic effects of
natural resource booms in modern. Washington, DC, National Bureau of Economic
Asche F, Oglend A, Osmundsen P (2012) Gas versus oil prices the impact of shale gas. Energy
Policy 47:117–124
Benoit B, Zurlo J (2014) Overcoming the challenges of tight/shale oil refining. Pet Technol
Q:37–44
Berman AE, Pittinger LF (2011) US shale gas: less abundance, higher cost. The oil drum
Brown SP (2014) Falling oil prices and US economic activity: implications for the future
Brown SP, Yücel MK (2013) The shale gas and tight oil boom: US States’ economic gains and
vulnerabilities. Council on Foreign Relations (October)
Curtis T (2015) US shale oil dynamics in a low price environment. University of Oxford, Oxford
Engdahl FW (2013) The fracked-up USA shale gas bubble. Сайт “Война и Мир”, 14 July 2013
Gilje E, Ready R, Roussanov N (2015) Fracking, drilling, and asset pricing: estimating the
economic benefits of the shale revolution. University of Rochester, Working Paper
Hackett D, Noda L, Grissom S, Moore M, Winter J (2013) Pacific Basin heavy oil refining
capacity. SPP Research Paper, (6–8)
Hamilton JD (2009) Causes and consequences of the oil shock of 2007–08. National Bureau of
Economic Research
Hughes JD (2013) Energy: a reality check on the shale revolution. Nature 494(7437):307–308
Jacoby HD, O’Sullivan FM, Paltsev S (2011) The influence of shale gas on US energy and
environmental policy. MIT joint program on the science and policy of global change
Kilian L (2014) The impact of the shale oil revolution on US oil and gasoline prices (499)
39 A Three-Dimensional Approach to Oil and Gas Shale Exploitation in the US
653
micro-seismic imaging, shale oil production would have been at a lower level and
at a higher price. Since technological improvements have not only an influence on
the exploitation material but also on better prospecting techniques both are
displayed within the same dimension in this actualized model. The use of far
more precise maps, which are now obtained through the use of satellites and
sonar systems, illustrates very well the latter. Unless new promissory shale oil
deposits are found shale oil production is expected to decrease in the 2020s.
Technological breakthroughs in the field of extraction and prospection could play
a main role to reverse this expectancy.
On the X-axis of the three-dimensional model one finds the new additional
influencing factors, namely jurisdiction, ecology and politics. Although those
key-elements were for a long time considered as minor, at present they are judged
as ineluctable in the framework of a sustainable exploitation of shale hydrocarbons.
Environmental awareness and jurisdiction could mean a drastic slow down for the
exploitation of oil and gas shale. In order to keep pollution in acceptable ranges
legislation protecting the environment could oblige (local) authorities to control
very carefully future exploitations and deliver exploitation licenses very strictly. On
the other hand it is also important that the environmental standards be the same for
all projects. Powerful companies could be tempted to shirk these standards.
References
Abu-Obayda Y (2016) Is the world’s shale oil boom ending soon? Vrije Universiteit Brussel,
Brussel
Allcott H, Keniston D (2014) Dutch disease or agglomeration? The local economic effects of
natural resource booms in modern. Washington, DC, National Bureau of Economic
Asche F, Oglend A, Osmundsen P (2012) Gas versus oil prices the impact of shale gas. Energy
Policy 47:117–124
Benoit B, Zurlo J (2014) Overcoming the challenges of tight/shale oil refining. Pet Technol
Q:37–44
Berman AE, Pittinger LF (2011) US shale gas: less abundance, higher cost. The oil drum
Brown SP (2014) Falling oil prices and US economic activity: implications for the future
Brown SP, Yücel MK (2013) The shale gas and tight oil boom: US States’ economic gains and
vulnerabilities. Council on Foreign Relations (October)
Curtis T (2015) US shale oil dynamics in a low price environment. University of Oxford, Oxford
Engdahl FW (2013) The fracked-up USA shale gas bubble. Сайт “Война и Мир”, 14 July 2013
Gilje E, Ready R, Roussanov N (2015) Fracking, drilling, and asset pricing: estimating the
economic benefits of the shale revolution. University of Rochester, Working Paper
Hackett D, Noda L, Grissom S, Moore M, Winter J (2013) Pacific Basin heavy oil refining
capacity. SPP Research Paper, (6–8)
Hamilton JD (2009) Causes and consequences of the oil shock of 2007–08. National Bureau of
Economic Research
Hughes JD (2013) Energy: a reality check on the shale revolution. Nature 494(7437):307–308
Jacoby HD, O’Sullivan FM, Paltsev S (2011) The influence of shale gas on US energy and
environmental policy. MIT joint program on the science and policy of global change
Kilian L (2014) The impact of the shale oil revolution on US oil and gasoline prices (499)
39 A Three-Dimensional Approach to Oil and Gas Shale Exploitation in the US
653