By Peter Zeihan, geopolitical Expert
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With ExxonMobil’s acquisition of Pioneer, it’s time to kiss the days of mom-and-pop shale operations goodbye. But before we look at what’s next, let’s look at the shale journey over the last two decades.
Thanks to high oil prices in the early aughts, small shale operations could innovate and develop new techniques for extracting that black gold. Once the US was close to achieving energy independence, super majors caught a whiff of the money and started buying up those smaller producers.
This recent acquisition signals the end of an era as the super majors now dominate shale production. So what does that mean for US shale? While there will be less innovation and slower production growth, ExxonMobil will provide more stability to the industry.
But that’s only the beginning of this story! We’ll be breaking down the second shale revolution tomorrow.
Peter Zeihan is a world expert in geopolitics: the study of how place impacts financial, economic, cultural, political, and military developments. He presents customized executive briefings to a wide array of audiences including financial professionals, Fortune 500 firms, energy investors, and a mix of industrial, power, agricultural, and consulting associations and corporations. Mr. Zeihan has been featured in, and cited by, numerous newspapers and broadcasts including The Wall Street Journal, Forbes, AP, Bloomberg, CNN, ABC, The New York Times, Fox News, and MarketWatch.
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