World’s quest for cheaper oil may end post-2020 | GulfNews.com:
"The world’s quest for cheaper crude may well end sometime in the next decade with the fast-improving horizontal drilling and hydraulic fracturing technology, popularly known as fracking, leading to global oil markets being flooded with the relatively inexpensive shale oil, say energy experts.
The market glut, they say, would then exert downward pressure on the international oil prices as there would be more crude supply than demand.
As matters stand, only the US and Canada are producing oil and natural gas from shale in commercial quantities. The shale oil and gas has transformed the energy outlook in the US"
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