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The Water Cooler
General Discussion
The Problem in Cushing (Oil Glut)
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<blockquote data-quote="Hobbes" data-source="post: 1615637" data-attributes="member: 3371"><p>+1</p><p></p><p>This was posted in the other thread as well.</p><p></p><p><img src="https://www.okshooters.com/data/MetaMirrorCache/si.wsj.net_public_resources_images_NA_BN047_NUMBER_NS_20110826160929.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p>The drilling boom is being driven by a variety of factors. New technologies have allowed companies to tap vast new oil reserves in places like North Dakota, Texas and, most recently, Ohio. High oil prices are making once-unprofitable fields more tempting. And low natural-gas prices are leading companies to shift their focus to finding oil. Natural-gas drilling, which generally uses the same rigs but in different places, is down 8% in the past year.</p><p></p><p>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.</p></blockquote><p></p>
[QUOTE="Hobbes, post: 1615637, member: 3371"] +1 This was posted in the other thread as well. [IMG]https://www.okshooters.com/data/MetaMirrorCache/si.wsj.net_public_resources_images_NA_BN047_NUMBER_NS_20110826160929.jpg[/IMG] The drilling boom is being driven by a variety of factors. New technologies have allowed companies to tap vast new oil reserves in places like North Dakota, Texas and, most recently, Ohio. High oil prices are making once-unprofitable fields more tempting. And low natural-gas prices are leading companies to shift their focus to finding oil. Natural-gas drilling, which generally uses the same rigs but in different places, is down 8% in the past year. 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. [/QUOTE]
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