North American energy independence possible, House panel told

09/24/2012
It's not unrealistic to expect abundant oil and gas resources to help make North America energy independent within a decade, witnesses told a US House Energy and Commerce Committee subcommittee on Sept. 13. "The United States has become the world's second-largest oil producer," said Harold G. Hamm, chief executive of Continental Resources Inc. in Enid, Okla. "We just passed Russia and are behind only Saudi Arabia. I don't think a lot of people realize this." Hydraulic fracturing and horizontal drilling have helped the US reduce its crude oil imports from 60% of its total consumption a few years ago to 45%, he told the committee's Energy and Power Subcommittee. US natur...
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