Could Innovation and Engineering Cause Dropping Oil Prices?

The recent drop in oil prices naturally has produced economic winners and losers, and price speculators and pundits are lining up conventional producers against those behind American-drilled Shale oil. Yet, questions remain about how the world is over-supplied with oil only a few years after we supposedly passed peek oil and survived oil prices topping $140 per barrel. Discounting the anticipated demand softness due to economic activities in Europe and Asia, technology is playing a strong role in finding, producing and using energy across the full range of industrial activities. Continue reading