The EIA reported some good news last week: increased energy efficiency + increased domestic production of oil, natural gas and renewables will reduce U.S. dependency on imported energy resources.
This should not come as a surprise as onshore US domestic production is steadily increasing year after year; one simply has to look at the staggering growth from the Bakken play in North Dakota and the Eagle Ford play in Texas. Domestic oil production is expected to hit 6.7M bopd by 2020, a level not seen since 1994.
Bakken Oil Boom
The best part of it is that thanks to the boom in shale gas production the U.S. expected to become a net exporter of liquefied natural gas (LNG) in 2016. The trade balance will definitely be improving in the next 4 years…
News Roundup
Drilling forecast lowered
U.S. Cuts Estimate for Marcellus Shale Gas Reserves by 66%
Growing U.S. energy output a threat to Canada
Blog Roundup
The Art of Non-Conformity: A Book Review and Giveaway (Invest it Wisely)
Welcoming Sysco to my portfolio (My Own Advisor)
Redneck Dividends (101 Centavos)
The Role of Money in the Financial Crisis (Financialgod)
Carnival Mentions
Yakezie Carnival at Little House in the Valley
Totally Money at Passive Income to Retire
Festival of Frugality at Squirrelers
Carnival of Financial Planning at Credit Cards Canada
Carnival of Retirement at 20′s Finances
Hope you’re having a great weekened!
