Peak Oil? What Peak Oil -- A Story That Includes The Bakken

According to the federal government, despite headwinds, "domestic oil production reversed decades-long decline in 2009 and 2010."

The report highlights activity in two areas: the permitorium in the Gulf and the boom in the Bakken.

While much of the increase in 2009 was associated with deepwater developments in the Federal Gulf of Mexico, the increase in 2010 was led by escalating horizontal drilling programs in US shale plays, notably the North Dakota section of the Bakken formation.