University of Washington, Jackson School of International Studies Task Force 2014: Beyond the Boom – Developing Policy to Advance US Leadership in Shale Oil and Hydraulic Fracturing

From the Introduction:

The shale oil revolution of the early twenty-first century has placed the United States at one of its most pivotal points in recent history with regards to energy policy. The production boom in 2008 led to an increase of nearly three million barrels per day within five years, accounting for over 90% of new crude oil growth. Such growth has transformed the U.S. from the world’s largest importer to a growing exporter of petroleum products, reducing its dependence on OPEC by more than half, rendering it a major competitor to Russia in refined product exports, and promising energy self-sufficiency for North America in coming decades.

In short, the shale revolution has altered the geopolitical map of global energy. Projections estimate that within the next twenty years, tight oil production in the US will  increase by another four to six million barrels per day, changing the map even further. As the outlook of tight oil development has serious implications for many US interests, laying a sound framework for long-term development is integral to both US domestic and foreign policy.

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