Quantum Energy Partners CEO Wil VanLoh states the US shale revolution has ended, predicting limited future production gains due to investor demands for returns and depleted reserves. He also suggests rising energy prices for consumers.
The U.S. shale revolution is over and large gains in production from now on are unlikely. The verdict comes from the chief executive of Quantum Energy Partners , Wil VanLoh, who suggested that energy prices for end consumers were going to climb higher. “The US shale revolution has run its course,” VanLoh told Bloomberg in an interview. “Clearly the investors have put oil and gas companies on a very short leash.
“We’ve tripled oil production in the last 15 years,” VanLoh said, “and we have doubled natural gas production.” This has turned the United States into the largest crude oil and natural gas producer in the world, which is an amazing feat, according to Quantum’s CEO. However, he said “there’s not a lot of gas left in the tank,” which would make further production increases of the same size impossible.
Shale Oil Production US Energy Quantum Energy Partners Wil Vanloh
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