Wake up America and smell the light sweet fracking crude.

“Energy independence, the Holy Grail for every U.S. president since Jimmy Carter, is within reach, oil-industry executives and analysts tell NPR. Within the next 10 years, the U.S. will no longer have to import crude oil and will be able to export natural gas, energy economist Philip Verleger says. PFC Energy Chief Executive Officer Robin West compares the impact of the “shale gale” to the fall of the Berlin Wall.”

As I write this my search engine tells me that this was posted three hours ago by a Bloomberg columnist. http://news.cincinnati.com/article/20120318/EDIT02/303180022/Baum-Renewable-Oil-gas-booming

All of what you read in this blog entry will be from news released in recent weeks.

“The busy Bakken formation in North Dakota and Montana is the largest and best-known oil shale play.

The Eagle Ford in South Texas and the Barnett “combo play” (gas and oil) in North Texas are also fairly famous unconventional plays.

Two wells drilled by Pioneer Natural Resources in the Wolfcamp Shale have already exceeded expectations.

But the Wolfcamp Shale?

“Over the next two or three years, everybody is going to be making a beeline to the Wolfcamp,” said Scott Sheffield, chief executive of Pioneer Natural Resources (PXD).

Spanning numerous counties across West Texas, the Wolfcamp formation is located below the long-plied Spraberry field, which helped make Midland, Texas, oil-central starting in the early 1950s.

Its location in the Midland Basin is within the larger Permian Basin.

Sheffield and other oil experts say the Wolfcamp is probably the thickest of any onshore U.S. oil shale play, with up to 1,000 feet of potential payout across hundreds of thousands of acres.” http://news.investors.com/article/604304/201203141341/it-is-all-about-texas-ceo-says.htm

“Feb. 24 (Bloomberg) — Alaska’s North Slope shale formation may hold as much as 2 billion barrels of oil, the second-largest U.S. deposit of unconventional crude after the Bakken in North Dakota and more than the Eagle Ford in Texas.

The region may also hold as much as 80 trillion cubic feet of gas, the fourth-largest gas-shale deposit after Marcellus in the Northeast, Haynesville in Texas and Louisiana, and the Eagle Ford, the U.S. Geological Survey said today.” http://www.businessweek.com/news/2012-02-27/alaska-s-shale-oil-tops-eagle-ford-trails-bakken-u-s-says.html

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