Independence & Simplicity and the U.S. Shale Revolution The dynamics of the oil industry have changed dramatically since the beginning of 2010. Because of the U.S. shale revolution, the U.S. is now a country with oil production rivaling that of Saudi Arabia and Russia. The fundamental shift in oil power has come as a direct result of investment in the technology of horizontal drilling and hydraulic fracturing tight oil formations in the U.S. In 2010, U.S. production from tight oil shale formations were marginal in comparison to total U.S. oil production; however, tight oil now makes up 52 percent of all U.S. oil production. (Click to enlarge) The simplistic nature of the U.S.’ royalty/tax contracts has fostered the growth in technology and the subsequent use of shale drilling resulting in a 64 percent increase in oil production from 2010 to 2016. Oil & gas royalty/tax contracts in the U.S. […]