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: Instapundit.com

WELL, SINCE THE SAUDIS ARE RUNNING OUT OF OIL, THIS IS A GOOD TIME: New drilling method opens vast ?

By Glenn Reynolds

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WELL, SINCE THE SAUDIS ARE RUNNING OUT OF OIL, THIS IS A GOOD TIME: New drilling method opens vast oil fields in US. “A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude. Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day ? more than the entire Gulf of Mexico produces now.”

Full post as published by Instapundit.com on February 09, 2011 (boomark / email).

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Austral Pacific Energy Ltd.
$1.6 million settlement reached in drilling costs dispute.

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