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Sunday, September 18, 2011

US Oil Imports Lowest as a Percentage Since 1996 -- Carpe Diem -- Bakken, North Dakota, USA

Link here with a great graph (and generally these links do not break).
"In 2003, the Bakken formation in North Dakota was producing a mere 10,000 barrels a day. Today, it is over 400,000 barrels, and North Dakota has become the fourth-largest oil-producing state in the country. Such "tight" oil could add as much as two million barrels a day to U.S. oil production after 2020—something that would not have been in any forecast five years ago.

Overall U.S. oil production has increased more than 10% since 2008. Net oil imports reached a high point of 60% in 2005, but today, thanks to increased production and greater energy efficiency (plus the use of ethanol), imports are down to 47%."
This, despite all the bashing of Big Oil and the federal government doing everything possible to destroy the domestic oil industry.

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