U.S. Oil Production Growth Expectations Continue To Rise

U.S. oil production is expected to rise more than 2 million barrels per day by 2015. That’s from a new report written by Bentek that was released after the National Petroleum Council’s Production Report last week. The bulk of production will be added by the Bakken, Eagle Ford, and other plays in West Texas. IHS predicts that same oil growth could fuel the addition of 1.3 million jobs and add $97 billion in tax revenues.

I think it’s safe to say all three, production, jobs, and tax revenues, should be welcomed during this economic climate. [Read more…]

American Shales Add Jobs and Oil Production

American shale plays, such as the Eagle Ford and Bakken, might produce as much as 2-3 million barrels of oil per day by 2020. A recent report by the National Petroleum Council (NPC) and American Petroleum Institute (API) suggest shales might also add 1 million jobs over the next 10 years. That’s an employment boom this country needs. The oil & gas industry already supports some 9 million American jobs.

As people get hired it will be hard to refute, but we all have to work to help the rest of the nation understand that American energy creates American jobs[Read more…]