Big Oil Looks to Shale to Replace Reserves

On Economic Straight Talk, Arthur Berman talks about why the big oil companies are looking at shale plays in the US to replace their reserves.

The article is quoted:

Major oil companies exited onshore North America during the mid-1980′s to early 1990′s because of dwindling opportunities of sufficient size to meet the economic requirements of large organizations.  After 20 years of success in deep water offshore West Africa and elsewhere, the best international prospects had been tested.  Fiscal terms had worsened and the national oil companies had put many of the better areas off limits to international companies.

To view the whole article on Economic Straight Talk, click here.