OPEC, Get Ready For The Second U.S. Oil Boom

[FBaggins]

What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment.

It’s not only about shale now—it’s about reviving mature oil fields through advancements in enhanced oil recovery, potentially opening up not only new shale fields, but older fields that have been forgotten. There are myriad gloom-and-doom stories about what is often alluded to as a short-lived oil boom in the U.S. But what many fail to understand is that revolutions of this nature are phased, with the advent of new technology typically followed by a temporary halt in progress while we study the results and come up with something even better.

...snip...

Phase two of the U.S. oil boom hits at the heart of the inadequacies of the first phase, in a natural progression.

There are two very interesting EOR advancements that have caught our attention in recent months: CO2 EOR and Plasma Pulse Technology (PPT).

http://oilprice.com/Energy/Crude-Oil/OPEC-Get-Ready-For-The-Second-US-Oil-Boom.html

Good news (if true) for the economy... lousy news for the ecology.

[Romeo.lima333]

1. addictions are hard to beat.

[Binkie The Clown]

2. More fevered fantasies.

The boom might last a few years, or it might last a few decades. But the end of the oil age is still in sight. We'd better start getting serious about leaving oil behind.