Tuesday, September 9, 2014

This Is The Technological Breakthrough That's Making People Wildly Bullish On America

From:  Business Insider

Rob Wile

This weekend, we told the story of three bears who are all bullish on America for one reason: Domestic oil and natural gas.

In particular, Hugh Hendry fund manager for Scottish group Eclectica Asset Management, cited "the momentous nature of recent advances in shale oil and gas extraction."
So what are these great breakthroughs?

As it turns out, the three great advances in shale resource extraction occurred more than a decade ago, according to Dan Steward, a geologist with Republic Energy and a former Vice President of Mitchell Energy.
The first was horizontal well drilling, which infinitely expanded the potential uses of fracking (which has actually been around since the 1949*). Here's an animation showing exactly what that looks like:

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