The Presidential Daily Brief

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  1. U.S. Averts Energy Crisis with Shale Revolution

    The surge in U.S. shale oil extraction may have prevented a global crisis after instability in the Middle East disrupted traditional crude supplies. At Eagle Ford near San Antonio, “fracking” is releasing over 800,000 barrels of shale oil each day and, while this hasn’t lowered domestic fuel prices, the home supply has helped avert disaster as suppliers in Libya, Syria and Iraq become increasingly stretched. The shale boom may prompt the U.S. to ease restrictions on crude oil exports, which could further bolster U.S. production.

    FT (sub)

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