Mr. H.
Diamond Member
News Headlines
A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a daymore than the entire Gulf of Mexico produces now.
great news
I really hope no one from the goverement fucks this up. keep the epa away
This is truly a job-creating industry. One that produces hard goods, employs millions, contributes to real GDP, reduces the need for imported oil, provides a secure and reliable commodity, pays billions in taxes and royalties.
No - the government IS out to fuck it up. Obama wants $40 billion of this industry's money.
Why? TO WIN THE FUTURE!
RIGZONE - Oil-Drilling Boom Under Way
Oil-drilling activity in the U.S. has accelerated to a pace not seen in a generation as energy companies, oilfield contractors and landowners rush to exploit newly profitable sources of crude.
The number of rigs aiming for oil in the U.S. is the highest since at least 1987, according to Baker Hughes. The 818 rigs tallied by the oilfield-service company last week are nearly double last year's count and about 10 times the number in the late 1990s.
While the drilling surge is unlikely to yield enough crude to alter the global oil-supply picture, analysts predicted that the new activity, centered on so-called unconventional reservoirs, could greatly boost domestic oil production and help offset declining output in Alaska and the Gulf of Mexico.