According to WSJ, it will be difficult for oil companies to replicate their success in the U.S. Each shale play outside the U.S. has its own problems
- Poland – Exxon pulled out after drilling two wells that have enough oil or gas to justify additional drilling
- China – Many believe China has more shale oil and gas than the U.S., but most of it is in arid or heavily populated areas. There may not be enough water for fracking.
- Argentina – Politics make it cost twice as much to drill a well
- France and Bulgaria – They have both banned fracking
While these global shale plays may offer significant reserves, the U.S. is the place to be for the next ten years.
Joseph F. Barone