The US reserves turnaround

The reversal the last few years of declines in US oil and gas reserves is happening because of economic factors, determined individual entrepreneurs, and technological innovation. OGJ and the Washington Institute for Energy Research (IER) have done our best to point out the realities of the turnarounds in US oil and gas reserves and production. Return of reserves growth The US Energy Information Administration recently updated its oil and natural gas reserve numbers and found large increases through 2011, further dispelling the myth that the country could be running out of a scarce domestic energy supply. The revised assessment includes a 15% rise in crude oil and lease condensate proved ...

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