Energy Boom: Is It For Real? Looks Like Answer is Yes
Prompted by President Obama’s unexpectedly cheery assessment of America’s energy outlook in the State of the Union, the Washington Post asked whether the surge in fossil fuel production was real. Yes, the paper concluded, but not for very long. The Post, it appears to me, is too pessimistic. U.S. oil production peaked in 1970s at about 9.6 million barrels per day. It dropped to 4.96 million barrels a day in 2008, the lowest production since …