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<blockquote data-quote="Hobbes" data-source="post: 1608592" data-attributes="member: 3371"><p>See, this is what's called parroting what you've been told is true, when you only listen to one side.</p><p>____________________________________________________________</p><p><span style="font-size: 12px"><strong></strong></span></p><p><span style="font-size: 12px"><strong>Number of the Week: How Many Rigs Are Drilling for Oil?</strong></span></p><p></p><p>1,069: The number of rigs drilling for oil in the U.S. this week.</p><p></p><p>The figure reflects a huge surge in U.S. oil drilling, up nearly 60% in the past year and the highest total since at least 1987, when oil services company Baker Hughes Inc. began keeping track.</p><p></p><p>[ATTACH=full]95380[/ATTACH]</p><p></p><p>The drilling boom is being driven by a variety of factors. New technologies have allowed companies to tap vast new oil reserves in places like North Dakota, Texas and, most recently, Ohio. High oil prices are making once-unprofitable fields more tempting. And low natural-gas prices are leading companies to shift their focus to finding oil. Natural-gas drilling, which generally uses the same rigs but in different places, is down 8% in the past year.</p><p></p><p>All that drilling is helping to boost U.S. oil production. <strong>The U.S. pumped 3.9 million barrels a day from onshore fields in March, up 5.9% from a year earlier and the most in nearly a decade.</strong></p><p></p><p></p><p><a href="http://blogs.wsj.com/economics/2011/08/27/number-of-the-week-how-many-rigs-are-drilling-for-oil/" target="_blank">http://blogs.wsj.com/economics/2011/08/27/number-of-the-week-how-many-rigs-are-drilling-for-oil/</a></p></blockquote><p></p>
[QUOTE="Hobbes, post: 1608592, member: 3371"] See, this is what's called parroting what you've been told is true, when you only listen to one side. ____________________________________________________________ [SIZE="3"][B] Number of the Week: How Many Rigs Are Drilling for Oil?[/B][/SIZE] 1,069: The number of rigs drilling for oil in the U.S. this week. The figure reflects a huge surge in U.S. oil drilling, up nearly 60% in the past year and the highest total since at least 1987, when oil services company Baker Hughes Inc. began keeping track. [attach=full]95380[/attach] The drilling boom is being driven by a variety of factors. New technologies have allowed companies to tap vast new oil reserves in places like North Dakota, Texas and, most recently, Ohio. High oil prices are making once-unprofitable fields more tempting. And low natural-gas prices are leading companies to shift their focus to finding oil. Natural-gas drilling, which generally uses the same rigs but in different places, is down 8% in the past year. All that drilling is helping to boost U.S. oil production. [B]The U.S. pumped 3.9 million barrels a day from onshore fields in March, up 5.9% from a year earlier and the most in nearly a decade.[/B] [url]http://blogs.wsj.com/economics/2011/08/27/number-of-the-week-how-many-rigs-are-drilling-for-oil/[/url] [/QUOTE]
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