Patsfanin Philly

World power swings back to America - Telegraph

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Telegraph readers already know about the "shale gas revolution" that has turned America into the world’s number one producer of natural gas, ahead of Russia.

Less known is that the technology of hydraulic fracturing - breaking rocks with jets of water - will also bring a quantum leap in shale oil supply, mostly from the Bakken fields in North Dakota, Eagle Ford in Texas, and other reserves across the Mid-West.

"The US was the single largest contributor to global oil supply growth last year, with a net 395,000 barrels per day (b/d)," said Francisco Blanch from Bank of America, comparing the Dakota fields to a new North Sea.>>>>>

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Um, Mr. Brady, can we line up?

Real World

There are a lot of questions surrounding the fracking (pun intended Battlestar Galactica fans) procedures, but even more questions surrounding the administration, or environment (no pun inteded tree huggers) that will exist with respect to energy production, post 2012. So while this looks like a potential net positive, buyer beware.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897