Mexican Media Brands
U.S. Oil Reserves Climb to 38-Year High
America's proved petroleum reserves rose to 33 billion barrels at the beginning of 2013, their highest since 1976, the U.S. Energy Information Administration reports.
#economics
Share
America's proved petroleum reserves rose to 33 billion barrels at the beginning of 2013, their highest since 1976, the U.S. Energy Information Administration reports.
Proved reserves are crude oil supplies identified as being reasonably likely to be recoverable from known reserves under existing operating conditions.
EIA attributes the increase primarily to more exploration and improved extraction technology.
The agency notes that America's reserves fell from 40 million barrels in 1972 to about half that amount in 2008 before beginning a sharp four-year climb. EIA says reserves jumped 15% in 2012.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.