‘Domestic oil production has been the one positive thing keeping our economy alive and Americans are waking up to the fact that developing American oil resources is a key to good paying American jobs.’
there is a technical limit to the amount of oil resources that are potentially developable. Those darn rocks are just too tight to flow liquids save in a very few special circumstances(Bakken, Eagleford and isolated other places).
Now gas is another matter entirely. We lead the world in gas resources in place and can enjoy via fraccing many generations of bringing this abundant, God-given resource into our homes and for our power plants.
Now gas is another matter entirely. We lead the world in gas resources in place and can enjoy via fraccing many generations of bringing this abundant, God-given resource into our homes and for our power plants.
Gas is definitely the future.
Lots of places across the country where keeping natural gas in the ground and out of drinking water has been a problem.
You are probably more knowledgeable than I am, but it was my impression that the fracking boom started in the natural gas sector and as producers improved the process, it began to be applied more and more to crude oil production.
Initial push of recent crude oil fracking was rejuvenation of existing well heads to increase out put and extend life, followed by new drilling in what were once marginal marginal areas. Field development expands as technology and know how improve enough to make the value proposition of continued development feasible