Article

2018-03-05 Economy

This New Technology Could Transform The Oil Industry

[Oilprice.com] Across the world’s big energy markets, the energy war rages on. OPEC and U.S. producers have been competing for years, but it’s now clear who’s winning this fight.

American production of crude oil rose to an all-time high, surpassing 10 million bpd. In February, the International Energy Agency predicted that U.S. shale output could meet all new global demand, thanks to its "extraordinary growth."

In the battle for global market share, the U.S. is winning, as Saudi exports reach their lowest levels since the 1980s. As Saudi Arabia is forced to maintain costly production cuts, the United States has embraced an energy revolution.

OPEC cuts, led by the cartel’s leader Saudi Arabia, have propped up prices, but there’s no question how U.S. companies have come out on top.

By embracing new technologies, innovations in upstream and downstream, and achieving maximum efficiency, American companies on the shale patch and elsewhere have unlocked American energy potential.

But while shale has been the big story, it’s really just the beginning.

One little company is preparing to take U.S. energy to the next stage: unlocking oil trapped in U.S. oil sands for as little as $22/barrel and using blockchain-based supply-chain management to improve efficiency and cut out the middlemen.

Posted by Besoeker 2018-03-05 08:09|| || Front Page|| [11130 views ] Top

#1 Advertisement

Posted by Heriberto Omurong9441 2018-03-05 10:06|| 2018-03-05 10:06|| Front Page Top

#2 Hmmm. I'll wait to see what ZeroHedge has to say about this.

Posted by Thaick Sproing2064 2018-03-05 13:09|| 2018-03-05 13:09|| Front Page Top

#3 What I'm looking toward is an encounter with the ~~shitheads~~ kind and caring people collecting for starving Saudi children. I've prepared by keeping a jar of 1 agora coins (the smallest coin in Israel nowadays is 10 agorot)

Posted by g(r)omgoru 2018-03-05 14:07|| 2018-03-05 14:07|| Front Page Top

#4 Innovation is always key but caution is advised. Every time you read "blockchain", replace with "BS".

Posted by European Conservative 2018-03-05 14:22|| 2018-03-05 14:22|| Front Page Top

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