Could U.S. Shale translate to Cheap Global Oil by 2012?

Oct. 31, 2012 11:30AM PST

Could the rise of U.S. shale oil mean fuel consumers can look forward to a multi-year period of crude price decline? Or is oil on track for new record highs above $150 a barrel? As quoted in market news: The country with the world’s highest oil demand, both volumetrically and per capita, now finds itself in the […]

Could the rise of U.S. shale oil mean fuel consumers can look forward to a multi-year period of crude price decline? Or is oil on track for new record highs above $150 a barrel?

As quoted in market news:

The country with the world’s highest oil demand, both volumetrically and per capita, now finds itself in the position where domestic supply growth far exceeds demand growth with every indication that this is a long term phenomenon. It is a major game changer, not just within the U.S., for the global oil and geopolitical balance.

Click here to read full Reuters article.