The American Petroleum Institute released the following statement regarding the recent US Geological Survey with new estimates for natural gas and oil in the Permian basin that show the assessments for technically recoverable resources have increased over the past decade.
“Today’s announcement reflects yet another benefit of America’s shale energy revolution. Innovative technology developed by the US natural gas and oil industry has spurred our economy, strengthened our energy security and lowered costs for energy consumers,” said Mike Sommers, President and CEO of API. “Now the world’s largest producer of natural gas and oil, the US is a global energy leader at the same time we are driving down GHG emissions.
“The US energy revolution has delivered massive economic, environmental and geopolitical benefits and it is clear that the world is better off with the US as the world’s leading natural gas and oil producer. When we lead the world through the responsible production of affordable energy, we also serve as an important tool for climate progress for the world. It’s one more way the US is leading in environmental progress.
“While it is important to recognise the opportunity such US natural gas and oil resources represent, it is necessary to have the infrastructure to bring them to market. Supporting energy infrastructure is critical to ensuring that consumers, workers and the environment will continue to benefit from the record US energy production that has boosted our economy and increased our national security over the past decade.”
Read the article online at: https://www.worldpipelines.com/business-news/07122018/usgs-identifies-more-recoverable-natural-gas-and-oil-in-permian-basin/