Apr 2 2013
According to Stag Energy Services, America's oil industry is moving toward a major milestone -- and a tremendous step forward toward U.S. energy independence. The company points to a recent report from Yahoo! Finance, which notes that the U.S. is on track to produce more domestic crude oil than it imports from overseas.
In fact, a recent Energy Information Administration (EIA) report says that the U.S. could hit this milestone by the end of 2013, and that if it does so, it will be the first time the U.S. has produced more oil than it has imported since 1995. Stag Energy Services has issued a new statement to the press, commenting on this potentially major event.
"For decades, U.S. lawmakers and citizens alike have talked about the idea of U.S. energy independence, but many never thought this would actually come to fruition," the company says, in its press statement. "That's why this is such a huge piece of news -- because it shows that the country is closer than many of us ever imagined to actually attaining total energy autonomy."
According to the Yahoo report, credit for this trend is largely due to major increases in shale oil production in two states, Texas and North Dakota. Some sources indicate that these and other domestic oil sources will be outperforming international imports by as many as 2 million barrels a day, by the end of 2014. In fact, it is projected that the U.S. will hit oil production rates not experienced since 1988.
Stag Energy Services notes that newly implemented technologies are also to thank for America's energy boon. "Hydraulic fracking technology has long been available, but only recently has it become more widely implemented," the company remarks. "As such, energy companies are able to access energy resources previously thought unattainable."
The Yahoo report notes that these trends may or may not translate into savings for energy consumers and for motorists -- but according to Stag Energy Services, these are positive trends regardless. "This is a boon to America's energy industry, and it ultimately means greater energy security for all of us -- and that is to say nothing of the jobs being created by this booming oil and gas industry," the company affirms.
Stag Energy Services is a company that offers diverse professional services to energy companies throughout the United States; the company's offerings include equipment rental, well maintenance, contract personnel, and more. Stag Energy Services works alongside many of the nation's top oil companies.