Austin, TX (PRWEB) January 24, 2014
According to Bloomberg*, the recent oil boom in the United States is putting European oil refineries out of business and undercutting West African crude suppliers. In fact, 16 European refineries have had to shut their doors in the last five years and the U.S. has shifted from depending on fuel from Europe to being a major exporter to the region. Nigeria used to send the equivalent of a dozen supertankers of crude oil each month to the U.S. Now they ship less than 3 on a monthly basis.
What's causing this surge in the U.S. petroleum market? Technology! Recent advances in extracting oil has driven U.S. oil production up 39% from 2011. This also helped the U.S. hit an all-time high record of American exports of gasoline and other refined products. Back in 2011, the U.S. government projected that by 2025, the U.S. would cut crude imports by one third. The U.S. beat that estimate in less than three years. As 2014 starts, we have cut crude oil imports by a third, and we'll continue to reduce foreign reliance on oil for years to come.
Companies like Carson Energy are helping their clients take advantage of this big oil boom in the United States. By utilizing state-of-the-art technology, Carson Energy continues to discover exciting new oil & natural gas opportunities across the U.S., which will help further fuel this 21st Century oil boom! Learn more on their website at CarsonEnergy.com.
*Source: Bloomberg, "Unforeseen U.S. Oil Boom Upends Markets as Drilling Spreads"
By Asjylyn Loder Jan 8, 2014 2:35 PM CT