Yesterday, the price of gas in the Charleston, South Carolina area reached $1.90 a gallon. Now, it appears that trend will continue after scientists find the largest oil and gas field ever found in the United States. The field covers parts of Texas and New Mexico. It is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids. The United States is already the largest oil and gas producer in the world, and we haven’t even touched this field, the Monterrey oil formation and barely felt the Green River shale formation.

 

From The National Review

In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural gas liquids, the Interior Department’s U.S. Geological Survey said.

Almost a third of the U.S.’s total crude-oil production comes from the Permian Basin where the reserve was found, making it the biggest shale-oil-producing region in the U.S.

“American strength flows from American energy, and as it turns out, we have a lot of American energy,” said Zinke. “Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.”

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