This post first appeared on Floating Path
America’s strength in energy production has reawakened in the past few years thanks mainly to hydraulic fracturing. With the country now producing enough to satisfy 88% of domestic demand (the highest since 1986), pipelines and railways have been scrambling to transport crude across the continent.
The CME Group recently published the graphic below detailing just how mighty the U.S. has once again become in crude oil production. In addition to the obvious production gains, they highlighted Union Pacific’s plan to invest $3.65 billion in its infrastructure to help transport crude oil as affirmation that the oil boom is here and will remain for some time.
…the Seaway pipeline looping will double capacity from 400,000 barrels per day to 800,000 barrels per day and the southern leg of the Keystone pipeline is scheduled for completion, adding an additional 600,000 barrels per day. This will mean an extra one million barrels per day flowing out of Cushing, Oklahoma to the Gulf of Mexico.