Ten years ago, who would have imagined this headline?
I remember a comment made almost in passing by a mentor of mine, circa 2005. At the time, oil prices had spiked north of $50 per barrel, which was historically very high, and appeared set to continue rising. Worse, the U.S. – and a large segment of our economy – seemed almost totally dependent upon foreign countries harboring various levels of hostility against us.
Against this backdrop, my mentor said something to this effect: "What the U.S. needs is like another 'Manhattan Project' – only this time, the project would be coming up with a way for our country to become energy independent."
Perhaps you have similar memories of "pre-fracking boom" life in America. Continue reading "Pros and Cons of the U.S. Shale Oil Boom (Really?)"