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For decades, the American presidents and congress have promised to reduce our dependence on foreign oil (as you can see in this video below): Promises were made to reduce imports of foreign oil by everything from cellulosic ethanol to solar energy. None of these big-government programs worked. After the oil shocks of the 1970s, U.S. […]
U.S. oil production averaged 7.5 million barrels per day (bpd) in 2013, reaching the highest levels since 1989, according to new data from the Energy Information Administration (EIA). Domestic oil production hit 7.9 million bpd in December 2013, an 11 percent increase compared to December 2012. The following chart shows U.S. oil production between 1989 and 2013. Meanwhile, on the […]
Maybe peering over the edge of a cliff will attune these bozos in Washington to mortality. I wouldn’t count on it, though. AEA (12/31/12) reports: “With our nation’s economic future in their hands, Senate leaders are negotiating behind closed doors in the latest round of political brinkmanship to avert the so-called fiscal cliff. Early reports indicate that […]
One of the few booming sectors in the U.S. economy is oil and natural gas. Domestic development has been helped by high worldwide prices for crude, but the improvements in horizontal drilling and hydraulic fracturing—“fracking”—have also been very important. In a new report, researchers at the University of Texas at San Antonio (UTSA) estimate that […]