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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 7 December 2012 [View all]Demeter
(85,373 posts)7. US oil production hits 15-year high
http://thehill.com/blogs/e2-wire/e2-wire/270837-eia-us-oil-production-hits-15-year-high
Domestic crude oil production in September hit the highest monthly output since 1998, according to the U.S. Energy Information Administration (EIA).
Oil production yielded 6.5 million barrels per day in September, EIA said. Daily production increased by 900,000 barrels daily compared with last September.
EIA credited horizontal drilling combined with hydraulic fracturing, popularly known as "fracking," for driving the production growth.
Lawmakers have lauded fracking for ushering in an era of greater energy self-sufficiency. The method helped turn the U.S. into a net oil exporter in 2011 for the first time since 1949...
Domestic crude oil production in September hit the highest monthly output since 1998, according to the U.S. Energy Information Administration (EIA).
Oil production yielded 6.5 million barrels per day in September, EIA said. Daily production increased by 900,000 barrels daily compared with last September.
EIA credited horizontal drilling combined with hydraulic fracturing, popularly known as "fracking," for driving the production growth.
Lawmakers have lauded fracking for ushering in an era of greater energy self-sufficiency. The method helped turn the U.S. into a net oil exporter in 2011 for the first time since 1949...
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