Shale Oil and Gas Fracking: Boom or Doom?
JULY 16, 2020
Hydraulic fracturing (also known as “fracking”), the technique used to recover oil and gas from formations with low-permeability such as shale and sandstone, catalyzed the United States’ shale revolution during the 2010s. Many countries outside North America are keen to capitalize on the next anticipated shale boom.
The COVID-19 pandemic has shaken up the global shale oil and gas landscape. The number of bankruptcies among US shale companies has surged, and the International Monetary Fund (IMF) and the Argentine government have made a U-turn and are re-evaluating the economic feasibility of Argentina shale oil. Meanwhile, China continues to invest heavily in shale gas in order to reduce its import reliance.