Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Moniz: Energy world different since '73 oil embargo, and more changes will come
http://www.mcclatchydc.com/2013/10/24/206406/moniz-energy-world-different-since.html
Moniz: Energy world different since '73 oil embargo, and more changes will come
Posted by Kendall Helblig on October 24, 2013
Forty years after the Arab oil embargo, U.S. Energy Secretary Ernest Moniz told an audience at a Washington think tank that there have been profound changes in how the United States views and addresses the energy world – and that more change is coming.
Speaking at the Center for Strategic and International Studies on Thursday, Moniz said American households spent 20 percent more of their income on energy in 1973 than they do today.
<snip>
Although it is well known that there has been an increase in oil and gas production, Moniz said it deserves more focus. Last year, he said, the U.S. saw its greatest increase in oil production in history: up by 1 million barrels per day. It was largely driven, according to Moniz, by two hydraulic fracturing formations: Bakken, in North Dakota, and Eagle Ford, in Texas.
Those two regions alone accounted for about 75 percent of monthly oil production growth across the six major domestic regions, according to a drilling productivity report released this week by the U.S. Energy Information Administration.
<snip>
Moniz: Energy world different since '73 oil embargo, and more changes will come
Posted by Kendall Helblig on October 24, 2013
Forty years after the Arab oil embargo, U.S. Energy Secretary Ernest Moniz told an audience at a Washington think tank that there have been profound changes in how the United States views and addresses the energy world – and that more change is coming.
Speaking at the Center for Strategic and International Studies on Thursday, Moniz said American households spent 20 percent more of their income on energy in 1973 than they do today.
<snip>
Although it is well known that there has been an increase in oil and gas production, Moniz said it deserves more focus. Last year, he said, the U.S. saw its greatest increase in oil production in history: up by 1 million barrels per day. It was largely driven, according to Moniz, by two hydraulic fracturing formations: Bakken, in North Dakota, and Eagle Ford, in Texas.
Those two regions alone accounted for about 75 percent of monthly oil production growth across the six major domestic regions, according to a drilling productivity report released this week by the U.S. Energy Information Administration.
<snip>
