Oil production in US skyrockets

This is one of those articles that, after your read it, your eyes are bugging out of your head. An incredible oil boom is underway, destroying the government's measely estimates for production and getting the US to the point where we will soon challenge Saudi Arabia for the world's biggest producer. Houston Chronicle: The United States' rapidly declining crude oil supply has made a stunning about-face, shredding federal oil projections and putting energy independence in sight of some analyst forecasts. After declining to levels not seen since the 1940s, U.S. crude production began rising again in 2009. Drilling rigs have rushed into the nation's oil fields, suggesting a surge in domestic crude is on the horizon. The number of rigs in U.S. oil fields has more than quad­rupled in the past three years to 1,272, according to the Baker Hughes rig count. Including those in natural gas fields, the United States now has more rigs at work than the entire rest of...(Read Full Post)