Saturday, May 28, 2011

Massive Oil Find in Texas

A series of domestic oil finds may be able to increase American oil production by up to 25% in the next decade. Of course there is controversy over the method to extract this sea of fuel-- hydraulic fracturing (Unlikely Hospitalist will love this one).

But it appears well worth it.

“It’s the one thing we have seen in our adult lives that could take us away from imported oil,” said Aubrey McClendon, chief executive of Chesapeake Energy, one of the most aggressive drillers. “What if we have found three of the world’s biggest oil fields in the last three years right here in the U.S.? How transformative could that be for the U.S. economy?”

Drill, baby, drill!

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