Gasoline prices are higher today at least in part because government has neglected to pay sufficient attention to the importance of producing more of our own oil and natural gas.
Government policies are stopping or delaying development of domestic oil and natural gas resources necessary to power our nation’s economy, create jobs and enhance America’s energy security.
In the Marcellus, about 10% to 30% of the fluid used to fracture a well returns to the surface and is captured with produced gas. This fluid is called produced water.
According to the Energy Information Administration, the U.S. in 2012 exported record levels of refined oil products such as diesel and jet fuel because of its efficient refineries operating at near capacity. The U.S. also imported significantly less due to flat domestic demand. Lower imports and increased exports have helped narrow the U.S. trade deficit and strengthen the overall economy.
We are hearing a lot about the Administration’s leadership in driving oil production up. The fact is that production on federal offshore and onshore areas is down.