From Energy in Depth

What else has hydraulic fracturing helped achieve?  Well, also according to the EIA, it has increased oil production in North Dakota from roughly 100,000 barrels of oil per day (BPD) in 2007 to over 747,000 BPD in December 2012.  As a result, the state now has the nation’s lowest unemployment rate and its shipping crude oil to east coast refineries which is helping to displace more expensive sources of foreign oil.

This, of course, is just one example of a larger trend that has resulted in the United States becoming a net exporter of petroleum products for the first time in over 60 years.

Taken together, all of these factors led the International Energy Agency (IEA) to recently declare that the global energy map “is being redrawn by the resurgence in oil and gas production in the United States.” The report also notes that, by 2020, the United States will displace Saudi Arabia as the world’s largest oil producer.

Read More from Joel Rudicil - President, Ohio Oil and Gas Association