Free Republic

Energy Secretary Jennifer Granholm laughed off the notion of encouraging more domestic oil production to blunt high gasoline prices and said matters are exclusively in OPEC's hands. "That is hilarious," Granholm responded while laughing to Bloomberg Surveillance host Tom Keene's question about the "Granholm plan" to increase oil production in America. "Would that I had the magic wand on this," Granholm said. "As you know, of course, oil is a global market. It is controlled by a cartel. That cartel is called OPEC." (video) Granholm brought up OPEC's and its allies' recent decision not to stray from its plan to...

Crude oil production in September from seven major US shale plays is expected to decline 93,000 b/d to 5.27 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). EIA previously projected 91,000-b/d declines for both July and August (OGJ Online, June 9, 2015; July 13, 2015). The DPR focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US oil production increases and all US natural gas production increases during 2011-13. The Eagle Ford continues to represent a bulk of the overall oil output declines, projected to...

A report has revealed that 2012 saw the largest single-year increase in US oil production ever recorded. US production grew due to an increase in techniques such as fracking, a method for extracting shale oil and gas, the report by oil giant BP said. Overall, global energy consumption grew by 1.8% in 2012, a smaller increase than in 2011. China and India accounted for almost 90% of that growth.