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America Is Producing the Wrong Kind of Oil

  • U.S. Shale boom has fed a glut of light-sweet crude oil
  • OPEC cuts mean heavier, dirtier grades are in short supply
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Currie Says Venezuela Needs Years for 'Game-Changing' Oil Output

The shale boom has created a world awash with crude, putting a lid on prices and markedly reducing U.S. dependence on imported energy. But there’s a growing problem: America is producing the wrong kind of oil.

Texas and other shale-rich states are spewing a gusher of high-quality crude -- light-sweet in the industry parlance -- feeding a growing glut that’s bending the global oil industry out of shape.