Shale Oil

NEW YORK CITY, September 24, 2013 (AFP) – The US shale boom is remaking the nation’s industrial landscape and raising the prospect of energy independence in the world’s biggest oil consumer. As the industry awaits more pipeline capacity, the US has seen an uptick in oil deliveries by rail and truck. Booming oil and gas production is creating jobs, reinvigorating energy-consuming industries and remaking the US trade balance.

“The shale revolution is real and is transforming our industry,” said Charles Ebinger, director of the energy security initiative at the Brookings Institution, a Washington think tank.

The shale boom, which began with a focus on natural gas, has shifted more recently to shale oil.

Shale oil production reached about 2 million barrels a day last year, pushing overall US output to 6.4 million barrels of oil per day, the most in 15 years and 32 percent above the level five years ago.

The boom has transformed the economic picture in parts of Pennsylvania, hit hard by the housing bust, while also catalyzing activity in suddenly jobs-rich North Dakota.

The boom in non-conventional petroleum in 2012 added nearly 500,000 direct jobs, according to a study b