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By the Numbers: U.S. Energy Renaissance Continues to Grow

Mark Green

Mark Green
Posted November 13, 2013

U.S. Crude Production Beats Imports in October, EIA Says

Bloomberg: U.S. crude oil production exceeded imports in October for the first month since February 1995, the U.S. Energy Information Administration said.

Output averaged 7.74 million barrels a day, the Energy Department’s statistical unit said in its monthly Short-Term Energy Outlook. Crude oil net imports were 7.57 million, down from 7.92 million the previous month.

Horizontal drilling and hydraulic fracturing, or fracking, have unlocked supplies in shale formations in North DakotaTexas and other states. West Texas Intermediate, the U.S. crude benchmark, has dropped to below $95 from above $110 in September as domestic output reached a 24-year high.

Read more: http://bloom.bg/1cV6vgE

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ABOUT THE AUTHOR

Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.