• bay area energy koll circle san jose ca The United States move toward energy independence

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    Bay Area Energy Koll Circle san jose ca The United States move toward energy independence

    The United States produces more black gold than they imported in October for the first time in nearly 20 years, know more of bay area energy koll circle san jose ca thanks to the boom in shale oil , a step closer to their goal of energy independence.

    Production of crude oil to the United States reached 7.7 million barrels per day ( bpd) in October , exceeding imports for the first time since February 1995 , wrote the U.S. Energy Information Agency (EIA ) in a report released Wednesday .

    In addition, U.S. oil imports fell last month know more of bay area energy koll circle san jose ca to the lowest since February 1991, Bay Area Energy Koll Circle san jose ca the EIA says .

    The White House was immediately welcomed in a statement that " historic step toward energy independence."

    This is the result of " a production combined with rising energy policy " of President Barack Obama , such as hardening " standards of fuel consumption ( vehicles ) that reduce oil consumption , emissions CO2 and the bill paid by consumers, " detailed the spokesman of the White House Jay Carney.

    The United States is full of very large reserves trapped in shale rock formations hydrocarbons.

    Since 2007 , know more of bay area energy koll circle san jose ca technological progress and the combined use of horizontal drilling and hydraulic fracturing have allowed to exploit these resources , giving rise to a genuine energy boom.

    The United States produced an average 6.5 million barrels of crude oil per day last year and according to the EIA figure is expected to rise to 7.5 million bpd this year and 8.5 mbd in 2014.

    The EIA is parallel argued that since they peaked in 2005, Bay Area Energy Koll Circle san jose ca imports of crude oil and petroleum products have declined steadily . know more of bay area energy koll circle san jose ca These crude reached 7.58 million bpd last month.

    " Reducing our vulnerability "

    The economic crisis has contributed to the decline in U.S. know more of bay area energy koll circle san jose ca consumption but as the recovery is and GDP even made a surprise in the third quarter jumped more than 2.8 % , imports continue to decline .

    This trend is expected to continue : the EIA forecasts a fall of 28 % of imports in 2014 , 1425 koll circle suite 101 which would be the lowest level since 1985.

    For Gene McGillian analyst consulting firm Tradition Energy , the fact that U.S. production has exceeded imports was " wait, because U.S. production is at its highest level in decades ."

    " This confirms a trend we already knew ," adds James Williams of WTRG Economics. know more of bay area energy koll circle san jose ca " For a few months it could be reversed again, but within a year ," production should be permanently installed above purchases of foreign oil, has he added.

    This increase is expected to come mainly from " the acceleration of production in Bakken shale basins , the northern United States, or Eagle Ford and Permian Texas (south) ," said the EIA , know more of bay area energy koll circle san jose ca but the government agency also provides for an increase in offshore drilling in the Gulf of Mexico.

    In addition, a report from the International Energy 1425 koll circle suite 101 Agency (IEA) said on Tuesday that the United States will become the world's largest oil producer by 2015 but will remain a decade.

    Gene McGillian for the data of October know more of bay area energy koll circle san jose ca "does not mean that we have achieved energy independence, it is premature " , as imports remain significant.

    Nevertheless, the White House stressed that " the rise of the U.S. energy supply plays a shock absorber that helps us to reduce our vulnerability to disruptions in the global supply and price shocks ."

    Mr. Williams also points out that " the two forecasts ( EIA and IEA ) could be wrong because they are based on the assumption that oil prices remain high ."

    " If a barrel of crude ( WTI in New York) fell to 80 dollars " , against about 94 dollars Wednesday , Bay Area Energy Koll Circle san jose ca " the growth in production would be interrupted because" it would be more expensive to produce for certain fields of importing , he argues .

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