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Booming shale plays in North Dakota and Texas are juicing the nation's oil output and reducing our dependence on foreign imports
By Meg Handley
March 20, 2013 RSS Feed Print
U.S. could soon produce more oil than it imports from abroad.
The U.S. could soon produce more oil than it imports from abroad.
The domestic oil boom is poised to reach another milestone as projections have the nation's monthly crude oil production outpacing imports for the first time in almost 20 years.
Buoyed by booming shale plays in North Dakota and Texas, U.S. oil production will be 2 million barrels a day higher than imports by the end of 2014, according to the U.S. Energy Information Administration's Short-Term Energy Outlook.
"This projected change is primarily because of rising domestic crude oil production, particularly from shale and other tight rock formations in North Dakota and Texas," the agency noted on its website Wednesday.
U.S. Oil Production Set to Surpass Imports For First Time in 20 Years - US News and World Report
By Meg Handley
March 20, 2013 RSS Feed Print
U.S. could soon produce more oil than it imports from abroad.
The U.S. could soon produce more oil than it imports from abroad.
The domestic oil boom is poised to reach another milestone as projections have the nation's monthly crude oil production outpacing imports for the first time in almost 20 years.
Buoyed by booming shale plays in North Dakota and Texas, U.S. oil production will be 2 million barrels a day higher than imports by the end of 2014, according to the U.S. Energy Information Administration's Short-Term Energy Outlook.
"This projected change is primarily because of rising domestic crude oil production, particularly from shale and other tight rock formations in North Dakota and Texas," the agency noted on its website Wednesday.
U.S. Oil Production Set to Surpass Imports For First Time in 20 Years - US News and World Report