Wednesday, March 07, 2012
"U.S. oil gusher blows out projections"
Apparently, America has substantial oil in the ground.
Now, we just need political policies that allow us to use it beneficially...
Now, we just need political policies that allow us to use it beneficially...
Simone Sebastian has this interesting story at Fuelfix.com:
"The number of rigs in U.S. oil fields has more than quadrupled in the past three years to 1,272, according to the Baker Hughes rig count. Including those in natural gas fields, the United States now has more rigs at work than the entire rest of the world.
'It’s staggering,' said Marshall Adkins, who directs energy research for the financial services firm Raymond James. 'If we continue growing anywhere near that pace and keep squeezing demand out of the system, that puts you in a world where we are not importing oil in 10 years.'
There are doubts that energy independence is that close. But many say the booming shale oil fields in Texas and North Dakota and the growth of deep-water drilling in the Gulf of Mexico will allow the nation to cut its reliance on oil imports significantly over the next couple of decades."
