Just yesterday the Energy Information Administration (EIA) put out a new study on the major reserves of shale gas and tight oil. Hydraulic fracturing has led energy producers and scientists to completely reassess America’s oil and natural gas reserves.
In North Dakota, the Bakken Shale is a huge source of this tight oil; however, it is only the third biggest in the entire country. In North Dakota they have seen unemployment drop to 3 percent due to the large effort to explore oil options in the Bakken Shale. If this is only the third largest source in the country, imagine the amount of jobs that would be created while also finding a huge amount of domestic energy sources.
In the charts from the EIA below you can see the amount of recoverable resources for both shale gas and tight oil.
Obviously the amount of shale and tight gas are unquestionable. If we were to explore these domestic options for energy we can create jobs while investing in a new energy source. It’s time to get behind the hydrofracking trend and access these tight oil reserves.