There's clean oil that only costs 20 a barrelGet the Full StoryReuters China Stringer Network
US oil production has doubled since 2010 thanks to innovations in drilling.
US oil companies are beating comptitors by drilling a lot, producing a lot, and selling a lot for as little as 20 a barrel in some scenarios.
But new and innovative drillers are threatening the US' stronghold of the market.
The United States is in the midst of an energy revolution.
Oil production has risen by 5 million barrels per day bpd since 2010, an increase of nearly 100 percent. New technology, particularly techniques in shale oil drilling, has opened up vast new opportunities for oil and gas companies.See the rest of the story at Business InsiderNOW WATCH: Why you should never pour grease down the drainSee Also:The US may soon become a net exporter of oil and gasHere's what could happen now that the oil bubble has burstUS shale is pumping out a lot more oil than expectedSEE ALSO: We tried 2 hugely popular coastal salad chains that are being fueled by millions in VC money and the winner is unmistakable