GREY:TRIAF - Post by User
Post by
hemi3tcon Sep 18, 2012 7:29pm
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Post# 20382381
Oil the next Natural Gas
Oil the next Natural Gas Could be a sign that the company thinks oil prices have topped out. Oil could be the next Natural gas with all the companies switching from Ngas to oil drilling. The middle east is the wild card.
North Dakota is one of the bright spots in domestic oil production, and continues to experience growth at a breakneck pace. According to the North Dakota Industrial Commission, output hit nearly 610,000 barrels per day in July, up close to 70% from just a year ago when production was 361,000 barrels per day.
Thanks to the massive increase in crude production from North Dakota, Bloomberg says "the U.S. met 83 percent of its energy demand from domestic sources in the first five months of this year, heading for the highest annual level since 1991, according to department figures compiled by Bloomberg."
https://www.bloomberg.com/news/2012-09-14/north-dakota-s-bakken-oil-output-passes-600-000-barrels-a-day.html