Since as early as 1972, Texas has been seen as a leader within the natural gas industry — producing nearly 10 trillion cubic feet of gas a year, and being in possession of almost a full quarter of the country’s reserves of natural gas. As of 2015, Texas produces more natural gas than every other country … Continued
The United States recently approved drilling in the Arctic Sea, a move which could vastly improve oil supply and further strengthen the domestic oil and gas industry. Oil drilling in any capacity always provides an economic boost, but Arctic Sea drilling conveys certain unique and specific benefits. By developing offshore drilling in the Arctic Sea, oil … Continued
Hydraulic fracturing, also known as fracking, has tripled the production of crude oil in Texas in the past five years, contributing significantly to the growth of the natural gas industry in the United States. Presently, Texas is estimated to have 31% of the national crude oil reserves and 26% of the natural gas reserves in the … Continued
In yet another move that maintains the Obama administration’s inconsistent messages about their support or opposition to the petroleum industry, they have approved the rights for Shell Oil to drill in the Arctic. While he vetoed the Keystone pipeline legislation which would have provided a safe and efficient pipeline into the U.S., Obama at least … Continued
The energy boom is poised to save the U.S. economy. The only thing that dragged us kicking and screaming out of the 2008 recession has been the boom to the economy that fracking has provided. In spite of the benefits that hydraulic fracking has brought, the liberal environmental movement coupled with the media has been … Continued
News of layoffs and a slowdown in the oil industry are not new. Since the prices of crude oil have dropped, the reports of how it is going to affect the oil industry has been all over the news. The liberal media is having a field day with the downturn of the oil and gas … Continued
Anyone who lived through the OPEC oil embargoes of the 1960s and ’70s thought that idea of the United States once again dominating the oil market was a dream that would never come true. While bell bottoms and disco may have gone the way of the dodo, it seems that once again the US is … Continued
It appears that Governor Kasich has hit on a surefire way to reduce state income taxes for thousands of Ohioans: Eliminate their jobs. The prime “beneficiaries” of this tough love tax treatment would be the quarter million or so men and women whose jobs are supported by Ohio’s oil and gas production industry. With the … Continued
Drilling spending is down for 2015, there is no doubt about that. Exploratory drilling by the oil and gas industry has been reduced nearly 30% from the 2014 spending levels. The reasons are pegged to the falling oil prices. While we can debate over the source of those declining prices elsewhere, there seems to be … Continued
Oil is only now starting to rebound in price after falling to recent record lows in the past few months. The upside has been lower gas prices than we have seen in a while. While that is great for consumers, is it really good for the economy as whole? Before we go out and start … Continued