A recent article in the NationalJournal written by Amy Harder details five trends that have turned the energy industry upside down over the past six years. One of the most impressive is the rate of growth in oil and gas production as hydraulic fracturing combined with horizontal drilling continues to become safer and more efficient. Six years ago, the first well was being drilled in the now-prolific Eagle Ford Shale in Texas, and billions of dollars where being spent on importing natural gas. Fast-forward to today, the Eagle Ford is producing close to 1 million barrels of oil equivalent per day and the Department of Energy just approved its sixth LNG export terminal to send natural gas to non-free trade agreement countries. Where will we be six years from today? Check in to find out.
This segment is from Tuesday's edition of Digging for Value, in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
Joel South has no position in any stocks mentioned. Taylor Muckerman owns shares of Spectra Energy. The Motley Fool recommends Spectra Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.