Tuesday, September 11, 2012

Shale Oil Can't Stop Crude Topping $150 by 2020

So says Bernstein:

“Global Oil Prices: At ’Base Camp’ Before the Final Ascent” argues that while U.S. shale oil and Canadian oil sands have reinvigorated the North American oil industry, new supplies are too small to meet emerging market demand growth. By 2015, shale oil is forecast to constitute just 3.2 pct of global supply, up from 1.5 pct now.

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