Wall Street Journal: Huge Surge in U.S. Oil Drilling
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From the good folks over at the Wall Street Journal:
1,069: The number of rigs drilling for oil in the U.S. this week.
The figure reflects a huge surge in U.S. oil drilling, up nearly 60% in the past year and the highest total since at least 1987, when oil services company Baker Hughes Inc. began keeping track.
All that drilling is helping to boost U.S. oil production. The U.S. pumped 3.9 million barrels a day from onshore fields in March, up 5.9% from a year earlier and the most in nearly a decade.
Rising production—along with other factors such as increased use of alternative fuels and reduced consumption due to more fuel-efficient cars—is helping to make the U.S. less dependent on foreign oil. U.S. crude oil imports last week were down 11% from a year ago; on a percentage basis, the U.S. imported less of its oil last year than any year since 2003.
Too bad the President and his radical environmentalist buddies are locking up all of our domestic energy resources. Just imagine how much oil we could drill if it weren’t for those damn hippies!
More on this from Joe Romm.
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