The Hill News

America needs energy. America needs jobs. A way to get them both is right under our feet.
 
A recent report by the National Petroleum Council says the United States has a more abundant supply of oil and natural gas than previously believed. The report concludes that by 2035 America could be producing 2 million to 3 million barrels of oil per day from shale formations, including the Bakken shale in North Dakota and Montana and the Eagle Ford shale in Texas.
 
The Sept. 15 report forecasts that under the most optimistic assumptions, America and Canada combined could produce up to 22.5 million barrels of oil per day, if the U.S. lifts regulatory barriers. This would allow America to reduce its reliance on oil from other parts of the world.
 
The National Petroleum Council study is consistent with a study issued Sept. 7 by Wood Mackenzie for the American Petroleum Institute. That study concluded that 1.1 million new American jobs could be crea! ted by 2020 if regulatory reforms are adopted to give American companies greater access to the treasure trove of oil and natural gas buried under our nation and off our shores.

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