From Carpe Diem:
America's energy industry continues to be one of the strongest engines of growth for the U.S. economy, thanks to the advanced drilling technologies that have given energy companies access to oil- and gas-saturated shale rock formations from Texas to North Dakota to Pennsylvania.
The news coming from the U.S. oil and gas industry continues to be incredibly positive and provides one of the best reasons to be optimistic about the future of America's economy. The ongoing investments in domestic energy production, along with investments in steel, chemical, and plastic plants to take advantage of America's abundant shale gas will provide a powerful economic stimulus to the U.S. economy and will continue to create thousands, and maybe millions, of shovel-ready jobs.
Here are some recent energy updates:
1. The Energy Information Administration just released updated domestic oil production statistics. The chart above shows that the meteoric growth in Texas oil production continued in October, surpassing two million barrels per day for the third straight month, and reaching the highest level of output since April of 1987, more than 25 years ago. Compared to a year ago, oil production in October increased 32%, and the Lone Star state's oil output had doubled in the last three years from just over one millions per day in the summer of 2009 to 2.1 million barrels per day in October.
2. The EIA also just re-posted this amazing animation of...
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