Another Feel-Good Story; A Must Read

Even though it's a Jim Cramer story, the numbers are real. At TheStreet:

When will people truly realize how important the domestic oil and gas finds in the U.S. really are? When will there be an understanding that the Eagle Ford, the Niobrara, the Permian and the Bakken shales may have enough oil to make a real dent on imports and change the way we think about which U.S. companies truly have the potential to be major independent companies? When will people recognize the U.S. is a lot closer to energy independence than we think? It drives me crazy how little-noticed the changes really are. Take Monday. Did you know that the California Energy Commission released numbers showing that 743,000 barrels of oil were shipped by rail last quarter to California refineries? That's up from 215,000 barrels last year at this time. I almost fell of my chair when I read a newswire report about it. Most of it came from North Dakota and Colorado. 

And then this:

It's nothing, though, compared with the Bakken field flowing out of North Dakota, which sent 317,000 barrels by rail to California in the first quarter. California's not even the biggest destination for oil from that monster play, which will produce almost a 900,000 barrels a day this year -- up from slightly less than 400,000 two years ago. Independents Whiting Petroleum and Continental Resources  lead the Bakken: Each produced about 65,000 barrels a day in 2012, and I bet those numbers will go up substantially this year.  

And it goes on. He also mentions the once-moribund Permian.

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read at this blog or what you think you may have read. This site is for entertainment and education only with regard to the Bakken. With regard to politics, it is for entertainment only.