December 8, 2010

NORTH AMERICA: The New Energy Kingdom? “With rising production from shale fields, the U.S. surpassed Russia last year to become the world’s largest supplier of natural gas. Shale now accounts for 10 per cent of the country’s natural gas production – up from 2 per cent in 1990. Chesapeake’s production from its next Texas project, expected by the end of 2012, will by itself supply the energy equivalent of 500,000 barrels of oil a day. For new oil, the U.S. has the huge Green River play that overlaps Colorado and Utah, one of the largest shale oil fields in the world. The EIA reports that the country’s proven reserves of crude rose last year by 9 per cent to 22.3 billion barrels. . . . Within a decade or so, North America will almost certainly emerge as the world’s biggest supplier – and exporter – of reasonably cheap energy.”

Comments are closed.
InstaPundit is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.