Final week, I commented on America’s dependence on overseas sources for important minerals and in contrast our present scenario in that venue with our dependence on OPEC for oil provides from the mid-1970s to the mid-2000s (Mercenary Musing, May 27, 2019). I concluded the section with this assertion: “… evaluating vitality to minerals is a bit like mixing oil with water”.
In immediately’s missive, I doc the historical past and improvement of American shale-hosted petroleum and the new home vitality paradigm that has come to cross.
The US of America is now the massive dangerous bully on the black gold block.
The appearance of widespread horizontal drilling and fracking started within the mid-2000s and it solved 45 years of declining American petroleum provides and big export of our bucks. That stated, shale fuel shouldn’t be a brand new commodity and the 2 applied sciences had been launched many a long time in the past.
In truth, shale fuel was first extracted as a useful resource from the Marcellus Shale in Fredonia, New York in 1821 and used to gentle village shops….