Production data for April show
how fracking has shattered not only the shale rock in formations like Texas' Eagle
Ford and Permian Basin but also the myths of "peak oil" and petroleum
as an energy source of the past.
As Mark Perry notes on his Carpe Diem blog, Texas
produced an average of 2.45 million barrels a day (bpd) of crude oil in April,
according to the Energy Information Administration (EIA). That's the highest
average daily output for Texas in any month since April 1985 — 28 years ago.
In only 2-1/2 years, the Lone Star State has doubled its
crude output, making it what Perry dubs Saudi Texas and reversing a 23-year
decline that fueled speculation that the
maximum rate of petroleum extraction has been, or will soon be, reached….ToRead More……
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