Wednesday, November 14, 2012

Domestic Oil Production Up - Thanks to Obama?

As you may know, domestic oil production has risen steadily the past couple years under Obama. But does he deserve credit as he has claimed? Actually the opposite is the case. Obama and his administration may actually soon hurt our domestic oil production. US oil production is up due to oil from the Bakken Oilfield (northern plains) and the Eagle Ford Oilfield (south Texas). This article from NewsMax summarizes the story well. In short a new technique called "fracturing" is making this oil production possible. More on fracturing and the Bakken Oilfield below: The Great American Oil Rush - The economic impact of North Dakota's Bakken oil boom.

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