(San Antonio Express News) The “Lone Star State of Texas” is quickly earning a new moniker: Saudi Texas–Oil production in Texas is soaring so much that production jumped to an average of 2.139 million barrels a day in November, the best showing in more than 25 years.
Analysts are chalking up Texas booming production to shale plays, especially South Texas Eagle Ford Shale which is quite possibly the largest single economic development in the history of the State of Texas and ranks as the single largest oil and gas development in the world.
Oil Analysts are tossing around the words “phenomenal, amazing and unprecedented” when discussing the numbers.
On the 13 March, 2012 I wrote here long gone are the days of any logical person using the Obama Administrations talking points that the United States has only 2% of the world’s oil reserves, yade, yade, yade…
The reality is, the United States currently has 1.142 billion barrels of technically recoverable oil resources and over 200 years worth of oil at current consumption rates.
More here Exposing the 2% Oil Reserves Myth -IER
H/T: Common Sense Club