Tuesday, June 12, 2012

Good News Facts: Shale Gas Hits 37% of All Gas & Oil Imports Fall To 42%

Daniel Yergin stated on Sunday in the NYT that shale gas now provides 37% of America's gas supply and that US oil imports are down to 42% from 60%. www.nytimes.com/2012/06/10/opinion/sunday/the-new-politics-of-energy.html?r=1&partner=rss&emc=rss.

Both are good news facts and stunning too.  Shale gas doubled to 37% of all US gas from just 16% in February 2011 and 2% or less around 2000.

Imports recently accounted for 60% of our oil but today are down to 42%.  A big drop in a short time.  Further declines are ahead, as US oil production surges above 6 million barrels per day, more fuel efficient vehicles replace gasoline guzzlers, and more biofuels and other substitutes cut further our oil demand.

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