An oil-drilling boom in Montana and North Dakota has caused pumping jack to be a common sight on the prairies. Kevin G. Hall, McClatchy News
U.S. Expected Soon To Be Crowned World’s Oil King -- McClatchy News
WASHINGTON — The United States will surpass Russia and Saudi Arabia to become the world’s largest oil producer in 2015, the International Energy Agency forecasts.
But the IEA’s long-term energy outlook, released Tuesday, predicted the Middle East will retake its position a decade later as the dominant source of global oil supply growth.
American energy production is skyrocketing, led by Texas and North Dakota, as oil companies use the techniques of hydraulic fracturing and horizontal drilling to tap oil and natural gas trapped in shale rock.
“Technology and high prices are unlocking new supplies of oil, and of course also gas, that were previously thought to be out of reach,” Maria van der Hoeven, the IEA’s executive director, said Tuesday.
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My Comment: Nothing lasts forever .... but America's present day oil boom is a surprise.
1 comment:
Employment opportunities for horizontal drilling in Oklahoma is massive. Oklahoma is all about oil and natural gas. Unemployment rate is way below than national average, and it’s because of this industry. Nearly one-quarter of all jobs in Oklahoma are tied to the energy industry. A recent research of the Oklahoma Energy Resources Board shows us the oil and gas industry was responsible for pouring more then $51 million into the state's economy and created jobs for over 300,000 people.
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