49% of the public wants to stop fracking now – according to the latest Pew Research poll of 1,265 adults last week.
The United States is now the world’s largest oil producer, now exceeding Saudi Arabia, having passed Russia several months ago. We are producing 12.4MM bbl per day of oil and liquids. The rise will not stop for many years to come.
Drilling costs have declined by 14% since 2007. Time to drill is down by 62%. Lateral lengths have increased by 82%. Capital recovery for a $5M well is less than a year.
Greenhouse gas emissions have dropped as a result of the substitution of natural gas for coal in power generation in the U S – by 500M+ tons, the lowest levels ever recorded since 1992.
The energy stock universe, as represented by the MLP index, has risen far more than the S&P 500 itself, declined less during the recession, and earns more distributions to shareholders than any other part of the stock market.
All this news makes you stop and think…