Here’s something you probably haven’t thought about lately. This is from the MotleyFool.com
Since 2011, America has produced 3-million more barrels of oil a day thanks to fracking. And yet, many OPEC countries production has gone down. Do you remember the days when oil prices would skyrocket – making your gasoline more expensive – just because the king of Saudi Arabia ate a bad meal & it was leaked to the press?
What’s made the difference? U.S. oil production. WE are now in the driver’s seat…not OPEC. That’s something we thought we’d never hear again.
This has only happened because of this amazing technology of horizontal drilling combined with hydraulic fracture stimulation of shale formations. It’s transformed the United States and it is certainly worth not throwing out like a pair of old socks. American OIL…from AMERICAN soil.