The US Shale Revolution Has Averted The Threat Of A Global Oil Crisis

Beacon of success: crude oil production in the US has risen by more than 60 per cent since 2008.

Energy: The Indispensable Country -- Ed Crooks and Anjli Raval, Financial Times

The US shale revolution has averted the threat of a global oil crisis caused by growing levels of conflict and instability

In the sleepy farmland of south Texas, near the ghost town of Helena, the 18 gleaming towers of ConocoPhillips’ oil stabilisation plant are an incongruous sight.

Three years ago, there were only fields here but facilities have sprung up to handle the flood of oil pouring out of the Eagle Ford shale region south and east of San Antonio. These are exciting times in the US oil industry; the new plants are proof of that.

Prospects are bright here and in a few other countries including Canada. As the gush of crude from North America strengthened, analysts predicted it would send prices tumbling and open a new era of cheap fuel. It has not happened.

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Update: Charts And Maps Of America's Amazing Shale Oil Revolution -- Seeking Alpha

My Comment: The U.S. shale oil revolution has been a godsend to global oil supplies and prices, but what is fascinating about this development is that even with the oil that they are producing .... because of extraction limitations .... 95% of this oil is still staying underground.

But even with all of this excitement and attention on U.S. shale oil developments .... the real exciting play right now (by far) is in Russia .... The Big One: Russia's Bazhenov shale -- John Kemp, Reuters

If John Kemp is right (and he is) ....it then explains why China is eager to sign trade agreements with Russia, and why Europe is hesitant on imposing sanctions on Russia because of Ukraine.