As President Obama has made a point of this election season, during his term US oil production has increased from what was considered a terminal decline just a few short years ago. (See my previous article on the subject.) At the second presidential debate Mr. Obama stated: “We have increased oil production to the highest [...]Read More →
Posts tagged with 'Shale Gas'
With the 2012 federal elections looming, the two parties are vying for voters. In Colorado this week, President Obama was promising an extension of the George H.W. Bush Administration’s tax credit to corporations who participate in the generation of power from wind stating, At a moment when home-grown energy, renewable energy, is creating new jobs [...]Read More →
Even with natural gas prices near ten-year lows, the Eagle Ford shale shows no sign of slowing oil production. It produced 27.1 million barrels for the first four months of this year, Texas Railroad Commission figures show, while Eagle Ford oil production for all of 2011 totaled 36.6 million barrels. “So we’re already 75 per- [...]Read More →
In Fracing Amazing: The Story of the Eagle Ford Shale, I explained how innovations in horizontal drilling and hydraulic fracturing of once-useless source rock unlocked the Eagle Ford Shale formation. Here are some other developments in the growing Shale Revolution in oil and gas production. Natural gas production is so prolific that the price of [...]Read More →
As President Obama observed in his 2012 State of the Union Address, “American oil production is the highest that it’s been in eight years.” This is truly exciting news. Just five years ago, US oil production was on a multi-decade decline that was widely expected to be terminal. Then, all of a sudden, production began [...]Read More →