Barry T. Smitherman Commissioner Gulf Coast Power Association Austin, TX October 4, 2011
Lower 48 States Shale Plays
Vertical vs. Horizontal Vertical vs. Horizontal Drilling
KeystoneXL Map
2010 Domestic Oil Consumption US Production million bbl/day OPEC – 4.9 million bbl/day Canada + Mexico – 4.2 million bbl/day Other non-OPEC – 2.7 bbl/day
Domestic Production helps reduce US wealth transfer to other nations $80 per barrel Total estimated U.S. oil export revenue to other nations Venezuela $21 billion Nigeria $17 billion Russia $5 billion Algeria/Libya $7.5 billion Iraq $10 billion Source: EIA – Historical U.S. Total Crude Oil Imports