The oil and gas boom is saving consumers thousands of dollars annually and tipping the scales in favor of U.S. makers of chemicals, steel, glass and other materials
It’s a positive story, and we’re at the beginning of itThe best is yet to come as you look at us connecting all the resources to end markets.”
The boom began in North Texas’ Barnett Shale natural gas play when drillers using hydraulic fracturing with vast amounts of water and sand unlocked petroleum that was once out of reach. After the techniques spread to oil drilling, Texas production took off like a rocket — tripling to 3 billion barrels a day in just 3 years.
As the boom spreads across America through North Dakota and now even into California, the positive economic impact will follow.