Don’t believe the naysayers. Energy independence is almost here. The infographic is via Bloomberg Business Week who add: New drilling techniques unlocked vast reserves unreachable just a few years ago. Oil and natural gas production in the U.S. is increasing at its fastest rate in 50 years, while imports from OPEC have been cut by […]
We Are Almost Energy Independent Read More »
The recent boom of the Bakken oil fields — made possible by a perfect storm of sensible state regulations, the fracking process, and the fact that most drilling is taking place on private lands—has produced a whirlwind of economic growth in a formerly sleepy corner of northwest North Dakota. Recently, a team from The Heritage
The North Dakota Miracle: Fracking in the Bakken Read More »
Infographic: The economic impact of North Dakota’s Bakken oil boom:
The Economics of North Dakota’s Oil Boom Read More »
Bloomberg: U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said. Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the
U.S. Oil Output to Overtake Saudi Arabia’s by 2020 Read More »
Remember Peak Oil? That was the theory that at some point soon, we would reach the point at which the rate of petroleum prodution would begin to decline, never again to reach the high point of production. It seemed like a good theory, but according to The Boston Company Asset Management’s Global Natural Resources Team
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Business Insider: Oil and gas production in the United States and North America is going to skyrocket in the next 8 years due to strides in natural resource extraction, write Citi analysts in a report published yesterday. In fact, they went so far as to call North America “the new Middle East,” at least in
Cheap Shale Oil Will Revolutionize US by 2020 Read More »
I can’t embed the video, but if you’re interested in the long term economic situation in the United States, you need to watch this video of a BBC interview with Royal Dutch Shell’s chief executive Peter Voser. In the video, he discusses the shale gas revolution in the U.S., which he predicts will bring manufacturing
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UT San Diego: Last December, Gov. Jerry Brown said a key reason to pursue very costly alternative energy was that America was running out of oil. During the presidential campaign, Republican nominee Mitt Romney’s declaration that he wanted North America to be energy independent by 2020 drew snickers in social media. Now, thanks to the
California Has More Shale Oil Than the Bakken Read More »
Get ready to mine the sand off the floorboards of your SUV after last summers trip to the beach, because there’s a sand rush in the midwest. Scouts armed with geological maps and elevations from Google Earth are knocking on doors in the upper Midwest in search of what seems too common to mine: sand.
Forget Gold, There’s a Sand Rush On Read More »
Remember peak oil? Someone forgot to tell North Dakota and Texas. After producing a relatively inconsequential share of the nation’s crude oil for many years (fewer than 100,000 barrels per day and only 1.5% of total domestic output), North Dakota’s oil production took off about five years ago when advanced drilling techniques including hydraulic fracturing
Energy Chart: Oil Production Read More »
