U.S. consumers are enjoying some welcome relief at the gas pump this fall, providing more evidence of the transformative power of the U.S. shale revolution. Despite global unrest, gasoline prices have continued to decline in recent weeks thanks to a surge in U.S. crude production.
An energy transformation is underway in America and technology is leading the charge. Advances in hydraulic fracturing and directional drilling have completely shattered prior expectations about our nation’s energy future by unlocking vast amounts of shale resources that were previously considered off limits.
The U.S. Energy Information Administration today highlighted the importance of energy production to state economies and showcased the economic growth in those states where energy extraction plays a significant role in the economy.