This informative article by Lutz Kilian discusses shale oil and its effect on oil prices in the United States. Shale oil is a term used by the oil industry for oil that is obtained from low-permeability rock, and it has caused a resurgence of oil production in the United States. This type of oil production was not available until quite recently, because of several technological advances in the industry. Currently, shale oil production, mostly from western states, accounts for a sizeable amount of the country’s crude oil production (Kilian, 187). This article discussed the history of shale oil, its advantages and drawbacks, the impact on oil prices and oil production as well as some projections for its use in the future.…