U.S. oil independence is difficult

In fact as early as the fourth quarter of last year, has become the focus of the market, that time also the IEA said in its annual report on U.S. crude oil production is expected to give a very optimistic,Fracturing proppant expected U.S. crude oil production in 2020 will reach 10 million barrels a day and more than Saudi Arabia ranked first in the world. Even this is expected to be realized, the current U.S. daily consumption of 18 million barrels, U.S. crude oil self-sufficiency rate is only able to reach 60%, or even independence from U.S. oil exports still not a small gap.
But in fact, the goal for now is still a bit difficult. On the one hand the United States since 2011 shale oil production capacity can be improved rapidly, there is a greater degree to a drastic increase from the previous spin shale gas wells into shale oil, but at present the total number of U.S. oil and gas wells from 2012 the highest level in the history of almost nine consecutive months of decline.

Supporting the 2008-2012 outbreak of shale gas production is an important factor after five years of sustained high gas prices 2004-2008 2008 U.S. natural gas price $ 8.02 / million British thermal units to historically normal ratio of oil and gas,frac sand companies equivalent to 145 U.S. dollars / barrel oil prices, since three years since 2010, the North American less than 90 U.S. dollars / barrel price of crude oil production is clearly insufficient to support a large number of new production, which in the past year, the outbreak of shale oil production can only be regarded shale gas boom One end, instead of copying.

On the other hand, shale oil production attenuation rate of over 40%, need intensive drilling to maintain production stability, and therefore its cost prohibitive. According to OPEC, said the North American shale oil production costs generally at 75 U.S. dollars / barrel and above, in the current level of oil prices, the ability to maintain the current production has is not easy, more difficult to undertake further increase may bring prices down.

In addition, although the booming shale oil production, but can not be ignored U.S. conventional oil production growth slow in 2003 - 2012 10 years, although international oil prices rose more than three times, but the three major U.S. oil giants - Exxon Mobil, Chevron and ConocoPhillips production growth of only 1.3 percent, reserve life of 10 years ago,ceramic proppant also unchanged at 14 years, but on the same period in the mining project expenditure has increased by 4.2 times. Thus, although the United States, "shale oil revolution" looks very bright, but the main part of the support of its conventional crude oil production growth in reserves is still not optimistic.