Barry T. Smitherman Commissioner Gulf Coast Power Association Austin, TX October 4, 2011.

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Presentation transcript:

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