Potential shortage of oil pipelines?
Sometime early in the next decade the US will overtake Saudi Arabia as the world’s most prolific producer of oil. That’s according to the US Energy Information Administration.
The key is new technology that’s unlocked vast reservoirs of oil and natural gas heretofore trapped under shale. And it’s spurred a production boom in Canada as well from previously untapped areas such as the Cardium Formation, the Duvernay Shale and the Montney Shale.