Friday, April 19, 2024
Hawai'i Free Press

Current Articles | Archives

Monday, May 13, 2013
Energy Independence Coming: US Foreign Oil Imports Down 40%
By NCPA @ 4:34 PM :: 3102 Views :: Energy

Unproven U.S. Oil Reserves Far Greater than Originally Thought

NCPA May 13, 2013

Advances in oil and gas extraction technologies are now allowing oil and gas companies to extract oil reserves that could not have been mined in the past. Hydraulic fracturing, also known as fracking, has caused great concern amongst environmentalists who fear the new extraction technique pollutes local water supplies and harms the environment. New regulations and future job growth are just two of the benefits from U.S. oil and gas reserves, which are much greater than previously thought, says Amy Harder, an energy and environment correspondent with the National Journal.

  • The Department of Interior is preparing new regulations for hydraulic fracturing to ensure that growth in the industry does not harm the environment.
  • The industry is expected to grow for many decades as the proven reserves of America's shale gas formations continue to grow, notably in the Bakken and Three Forks shale formations stored deep under the states of North Dakota, South Dakota and Montana.
  • The United States Geological Survey (USGS) estimates that the two formations hold more than 7.4 billion barrels of oil and gas that is undiscovered, but could theoretically be extracted in the future.

The estimates of unproven reserves are good news for North Dakota, a state where much of the oil boom has occurred. Wages have more than doubled in counties where oil rigs have been drilled.

  • While the unproven reserves cannot be extracted easily, the reserves will encourage companies to develop more advanced technologies to extract the oil and gas.
  • The massive reserves will lead America to energy independence by 2033.
  • Foreign-oil imports are already down 40 percent from 25 years ago.

The Department of Interior regulations on hydraulic fracturing will place stricter controls on companies using water to extract the natural gas. While the regulations are only for fracking operations on federal lands, they could have important implications for fracking operations on private property.

  • Only 11 percent of the natural gas and 5 percent of the oil produced in the country is on public lands.
  • The new regulations should calm environmentalist's objections to fracking and bolster the long-term outlook for American energy independence.

Source: Amy Harder, "The U.S. Has Much, Much More Gas and Oil Than We Thought," National Journal, April 30, 2013.


TEXT "follow HawaiiFreePress" to 40404

Register to Vote


808 Silent Majority

Aloha Pregnancy Care Center


Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii


Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together



Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport


OHA Lies

Opt Out Today

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii


Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii