Is a new crude oil age arriving?

While a dramatic shortage of oil and gas was predicted some years ago, which gave reason for an enormous increase in energy prices; this is out of question today. Oil and gas is existing in abundance, and this is even true for decades. Due to the new technology of “fracking” it becomes possible.

The earth crust contains huge deposits of oil and gas in shale rock and coal seams. These rocks do not have sufficient permeability to allow the production of oil with conventional methods. For this reason, so far they were ignored when searching for oil. Since 1995, the Texas-born George Mitchell,...