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U.S. Posts Record Year for Oil Growth

BP (NYSE:BP) is adding to the chorus of amazed U.S. oil watchers.The energy giant's Statistical Review of World Energy, which has been being published for more than six decades, is the latest report to signal a shift in world energy markets as a result of the U.S. shale oil boom.According to BP, U.S. crude oil production last year recorded the largest increase in the world and the nation's history at more than one million barrels a day. Production totaled 8.9 million barrels a day, a 14% jump year-over-year.The nation's previous record was an annual gain of 640,000 barrels a day in 1967.The combination of hydraulic fracturing and horizontal drilling has allowed the industry to retrieve oil from shale rock formations, particularly North Dakota's Bakken Shale and the Eagle Ford Shale in Texas. Thanks to those booming shale plays, crude oil production in the U.S. has soared to help keep the global market adequately supplied and offset declining production in other regions.Meanwhile, with ...

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  1. Chevron, Exxon investors sustain calls for fracking disclosure

    SAN RAMON, Calif./DALLAS (Reuters) - About 30 percent of shareholders of both Exxon Mobil Corp and Chevron Corp on Wednesday backed calls for more disclosure surroun...

  2. California’s Fracking Conundrum

    Radio host Larry Elder on the Golden State’s battle of its natural resources.

  3. Fracking in California Possible Despite Environmental Lobby?

    The Ginsberg McLear Group’s Aaron McLear, WSJ’s Steve Moore on the potential economic benefits of fracking for California.

  4. California considering 10 bills that would limit fracking

    Claudia Cowan reports from San Francisco

  5. GE's Big Bet on the Oil Boom

    General Electric (NYSE:GE) is investing billions of dollars in the shale oil boom, as the corporate giant looks to improve hydraulic fracturing and increase its foot...

  6. Shale Boom: Good for Some, Not for Others

    The rapid increase in U.S. shale oil production, which is expected to give the nation energy self-sufficiency by the end of this decade, is having a far-ranging impa...

  7. Analysis: At margins of shale oil boom, a tempered euphoria

    For the past three years, the boom in the U.S. shale oil industry has outstripped all expectations. Production surged far faster than any forecasts; drillers raced t...

  8. Aqua Man To The Rescue

    Somewhere in America there's another water main about to blow.On Wednesday, a line ruptured in Springfield, Mass., shooting water four stories into the sky.On Monday...

  9. NY delays decision on fracking while Pa. sees economic boom

    John Roberts reports on tale of two states

  10. Groups Fighting California’s Push for Fracking

    Center for Biological Diversity Senior Counsel Bill Snape on the environmental impact of fracking .

  11. Job Growth Hurt by Delays in Approving Fracking ?

    WL Ross & Co. Chairman Wilbur Ross on the potential economic benefits of fracking .

  12. Is Illinois the Next Fracking Center?

    WSJ senior economics writer Steve Moore and Community and Economic Development educator for the University of Illinois Ronald Duncan weigh in on fracking coming to the state of Illinois.

  1. Pickens: U.S. Has Ample Resources to Take Care of Our Needs

    BP Capital Management CEO T. Boone Pickens on the benefits of fracking for the economy and job market.

  2. Market Pullback Creating Investor Opportunities?

    Biltmore Capital Advisors CIO Tyler Vernon and Zacks.com Senior Equities Strategist Jared Levy on how investors can boost their portfolios.

  3. Economy Should Be Stronger?

    First Trust Advisors Chief Economist Brian Wesbury says blame the government for today’s economic troubles.

  4. Playing the shale gas boom - Chart Industries

    What a difference a decade makes.Ten years ago, Chart Industries Inc was on the verge of bankruptcy after taking on too much debt during a spree of acquisitions that...

  5. Illinois Passes Fracking Legislation, Who Will Follow?

    The NRDC’s Bob Deans on the ongoing battle over the energy-extraction process.

  6. Grapevine: Legislator uses fake names to attack constituents

    State lawmaker goes after fracking supporters online

  7. Mayer Rocking Tech Sector

    Layfield Energy President John Layfield on recent acquisitions by the search engine and the leadership strategy of CEO Marissa Mayer.

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