Any Oil Shale Experts On Here?
Oil experts predict that within 10 years U.S. oil production will increase 40% due to hydraulic fracturing in the oil shale. I have been buying the Bakken stocks every time oil prices crash and this has been very profitable for me to play the technicals but I was wondering about the longterm production. I manage about 500K for my parents and I am considering a longterm investment of about 50K into the Bakken and Niobrara stocks for them. I believe this is a great investment for the next 10 years but how long will the oil shale plays last? I am trying to put them in stocks they won't need to trade for 15 years or so. I believe these companies will eventually run out of oil to drill and will revert to natural gas drillers. Any help would be appreciated.