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The path toward U.S. energy independence, made possible by a boom in shale oil, will be much harder than it seems. What are just a few of the roadblocks? Independent producers will spend $1.50 drilling this year for every dollar they get back. Shale output drops faster than production from conventional methods. And, according to the Paris-based International Energy Agency, North Dakota's Bakken shale will need 2,500 new wells a year just to sustain output of 1 million barrels a day--but Iraq could do the same with just 60 wells.
|Dream Of U.S. Oil Independence Slams Against Shale Costs|
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