Sectors

Big Data Analytics Can Deliver U.S. Energy Independence

03rd Jan `14, 06:54 AM in Sectors

As shocking as it might seem, for the first time in decades, the U.S. is oh so close…

BDMS
Guest Contributor
 

As shocking as it might seem, for the first time in decades, the U.S. is oh so close to energy independence. According to the International Energy Agency, by 2016 the U.S. will surpass Saudi Arabia and Russia to become the world’s largest oil producer.

Greater production and reduced consumption has helped America achieve this status. But the real hero is actually a villain in many circles — shale oil. Shale’s controversial horizontal drilling and hydraulic fracturing (fracking) processes are extracting rich deposits of oil from hard to reach spaces beneath the earth, but not without impacting the environment.

The U.S. is currently on track to match in the next five years its record oil output from 1970 of 9.6 million barrels per day (bpd). Just in Texas alone, Eagle Ford and Permian Basin are generating nearly 2 million bpd in 2013. Several other states are gearing up for oil boom as well. EIA projects U.S. shale oil production will reach 4.8 million bpd in 2021.

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