Oil and Gas Production Up
The oil keeps flowing from the Bakken formation in western North Dakota. And that success is contributing to the nation as a whole reaching its highest crude oil production numbers since 1998. According to the U.S. Energy Information Administration, crude production averaged 6 and a half million barrels per day in September, the highest volume in 15 years.
The EIA is also predicting crude production will rise by another million barrels per day by 2019.
With the natural gas plays around the country, including the gas pumping out of the Bakken, the EIA estimates the country will become a net exporter of liquified natural gas in just four years.
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