Benefits of Oil Shale Boom

Two professors from the Wharton School of Economics and one from the Simon School of Business reposted in early July on the Economic Benefits to the U.S. Economy of the Oil Shale Boom. The oil shale technology boom was significant in lifting the U.S. Economy out of the recession of 2009. The report shows that the fracking technology boom added $2.5 trillion to stock values in the U.S. from 2012-2014. “Over the five years following the Great Recession (2009 through 2014) the U.S. equity market capitalization roughly doubled, despite fairly anemic rates of growth in the real economy. U.S. oil production soared over the same period because of fracking.” Wharton professors say, “In many cases, a single positive well result for a reservoir can indicate the potential for hundreds of follow-on wells, which can have billions of dollars of [benefit] for a given company.”