Shale Boom Won’t Eliminate U.S. Import Needs

Posted October 17, 2014 at 5:10am

Fuel Fix reports that “the U.S. may be producing more of its own oil than it has in decades, but it’s unlikely the nation will fully wean its dependence on foreign crude anytime soon.”  

“’We will deeply remain an importer of crude oil for the absolute foreseeable future,’ Greg Haas, director of integrated oil and gas research at Stratas Advisors told a group gathered at the Dallas Federal Reserve Bank on Thursday.”  

“Although the U.S. is far from achieving anything close to full energy independence, the rapid resurgence in domestic oil and gas production has slashed the nation’s reliance on foreign oil in a short period of time, Haas said.”