The West Texas portion of the Permian Basin produces three-quarters of the crude oil produced in Texas, according to Railroad Commissioner Barry Smitherman.
“You are the engine that runs the economy,” he told members of the Permian Basin Petroleum Association at Thursday’s breakfast kicking off the association’s annual meeting. The nation, is on the cusp of true energy independence, he said, citing growth of unconventional oil and natural gas resources from the Permian Basin to the Eagle Ford, from the Bakken to the Marcellus up into Canada. Those areas, he said, have enough liquid production “to let us significantly reduce our oil imports from the Middle East,” where OPEC members supply the United States with 5 million barrels a day, while Canada also provides the U.S. with 5 million barrels a day.
“Unfortunately, you have been demonized by the New York Times, Los Angeles Times, the Washington Post, which have no idea what it takes to run an economy.”
It seems the Obama administration’s goal is “to keep fossil fuels out, green energy in and Texas down,” he said.
Oil and gas operators face myriad obstacles, from the Environmental Protection Agency’s new source performance review standards for hydraulic fracturing to the agency’s cross-state air pollution rules to its endangerment findings that carbon dioxide, when combined with five or six other elements, was a danger to the public, he said.
Source: My West Texas
For Oil News or Oil investments
No comments:
Post a Comment