Graph of the Day for May 30, 2010

"Here's my question: Why are we drilling in 5,000 feet of water in the first place? Many reasons, but this one goes unmentioned: Environmental chic has driven us out there.  As production from the shallower Gulf of Mexico wells declines, we go deep (1,000 feet and more) and ultra deep (5,000 feet and more), in part because environmentalists have succeeded in rendering the Pacific and nearly all the Atlantic coast off-limits to oil production."  Charles Krauthammer, May 27, 2010.

Source:  US Energy Information Administration.

Source:  Carpe Diem.

Hoven's Index for May 30, 2010

Crude oil production (barrels) in the US, January 2010:

Total:  168,413,000

Texas:  33,125,000

Alaska:  19,846,000

California:  17,236,000

Federal offshore:  52,700,000

State offshore:  4,261,000

Source:  US Energy Information Administration.

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