The United States Geological Survey confirmed the discovery this week of the largest “continuous oil and gas assessment” ever found under Texas and New Mexico; with Secretary of the Interior Ryan Zinke saying “Christmas came a few weeks early this year.”
“Today, the U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources,” writes the United States Geological Survey.
“Christmas came a few weeks early this year,” said U.S. Secretary of the Interior Ryan Zinke. “American strength flows from American energy, and as it turns out, we have a lot of American energy. Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.”
“The results of this most recent assessment and that of the Wolfcamp Formation in the Midland Basin in 2016 are our largest continuous oil and gas assessments ever released,” added Dr. Jim Reilly, USGS Director.
AMERICA FIRST: US to Become World’s TOP OIL Exporter Next Year
Energy industry insiders announced Friday that the United States is poised to become the world’ largest oil exporter; surpassing Saudi Arabia for the first time as early as next year.
According to Citigroup, the US currently produces approximately 8.3 million barrels of crude and refined oil per day compared with Saudi Arabia’s 9.3 million barrels.
Expanding American business and energy operations throughout the country are expected to boost those figures within months.
“Saudi Arabia has also trimmed its oil production more than 100 percent of the output cuts it agreed to under the January 2017 production deal. In March, Saudi crude production was at 9.91 million bpd, below the deal’s output target of 10.058 million bpd,” writes OilPrice.
The new projections fulfill a major campaign promise from President Donald Trump, who vowed to open new areas and unleash energy sector businesses to help make the United States energy independent.
AMERICA UNLEASHED: USA Becomes ‘Net Exporter’ of Oil for FIRST TIME in 75 YEARS
The United States energy industry continued to soar to life under President Trump and the GOP-controlled Senate this week; becoming a “net exporter of oil” for the first time in over 75 years.
“America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what U.S. President Donald Trump has branded as ‘energy independence,’” writes Bloomberg.
The American transformation from a net importer to exporter is a direct result of the expanding US oil industry; with “thousands of new wells” appearing in Texas, New Mexico, North Dakota, and Pennsylvania.
“The shale revolution has transformed oil wildcatters into billionaires and the U.S. into the world’s largest petroleum producer, surpassing Russia and Saudi Arabia,” adds the article.
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