Why America is the new Middle East in terms of oil production: World’s largest reserves just discovered under Texas

Thursday, December 13, 2018
By Paul Martin

by: Ethan Huff
Wednesday, December 12, 2018

For the first time since 1973, the United States now leads the world in terms of oil production. And according to reports, we have the ground underneath Western Texas and Eastern New Mexico to thank.

A new assessment by the U.S. Geological Survey (USGS) estimates that untapped regions of what’s known as the Delaware Basin, a component of the greater Permian Basin, contain 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids – an amount two times larger than what was estimated in a 2016 assessment of just the Wolfcamp shale play in Permian’s Midland Basin.

These estimates take into account access to continuous, unconventional oil comprised of “undisclosed” but “technically recoverable” resources, according to the USGS. This means that such resources are accessible using methods like slant drilling and hydraulic fracturing, also known as “fracking.”

“Christmas came a few weeks early this year,” stated U.S. Secretary of the Interior, Ryan Zinke, about the unexpected discovery. “American strength flows from American energy, and as it turns out, we have a lot of American energy.”

“Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.”

For the first time EVER, the U.S. now exports more oil than it imports

This news comes at the same time that President Donald Trump has announced that, for the first time, the U.S. is now exporting more crude oil than it’s importing.

The Rest…HEREhttps://www.naturalnews.com/2018-12-12-oil-production-worlds-largest-reserves-just-discovered-under-texas.html

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