A new report from The Washington Post says that oil production in the United States “is flirting with record highs heading into the new year,” due to shale technology and “the oil-friendly Trump administration.”
Oil production declined for decades, scaring experts into believing that the United States was running out of the critical resource:
“For years and years, we thought we were running out of oil,” [Senior Vice President at the Center for Strategic and International Studies Frank] Verrastro said. “It took $120 for a barrel of oil to make people experiment with technology, and that has been unbelievably successful. We are the largest oil and gas producer in the world.”
But fracking has turned the trend around, allowing drilling companies to reach remote pockets of oil and gas underground. Through fracking, drilling companies dig sideways after puncturing the ground, and they use high-pressure water streams to fracture rock formations, hence: “fracking.” – READ MORE
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