Texas is reveling in unprecedented oil production, triggered by technological advances such as hydraulic fracturing. The state is producing more than 90 million barrels of oil each month. That’s easily more than twice the monthly oil production from three years ago, accounting for more than one-third of all U.S. production, according to federal data. West Texas has played a starring role. Its Permian Basin, whose steady production before a 1980s price crash cemented Texas’ reputation as an oil-rich state, is now the most lucrative region in the U.S. Texas regulators are issuing more than twice the drilling permits there than they they did in 2007. But producing that oil requires plenty of energy. And as operators connect rigs, pump jacks, compressors and other equipment to the energy grid, they suck more electricity. ~ Carmalene
Posted on: Mon, 25 Aug 2014 15:15:13 +0000
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