Saudi Says Unconventional Shale (aka The Bakken) Has Changed Things

Link here.

I remember very distinctly when I started blogging about the Bakken the first time (I completely deleted the first iteration of the "milliondollarway" in a moment of despair, depression, and idiocy). One of the reasons for starting the blog the first time was to counter those who said the Bakken was over-hyped. My irritation targeted two specific sites which I will not name. My new blog has outlasted one of those sites, and the other site continues to equivocate on the importance of the Bakken. The second site is full of "nope" which is the only hint I will provide.

Be that as it may, the Saudis have seen the implications of the Bakken and have admitted it is a game changer.

Saudi Arabia's state energy company said on Monday that its dominant role in world oil supply had been altered by large new reserves in North America, sapping the urgency to develop the kingdom's own reserves.

The speech by Saudi Aramco's chief executive was the first from the globe's top oil exporter to acknowledge that unconventional oil was set to shift the energy balance of power and cut U.S. dependence on Middle East crude.

"The Bakken" may not be mentioned by name, but this is where it started and this is where the new technology is being introduced, studied, and exported worldwide.

And every roughneck and every truck driver is playing a role.

Hooah!