Fox Business News reports that because of surging shale energy development, overall oil production in the U.S. has become less susceptible to disruption from Gulf of Mexico hurricanes – even as the hurricane season officially opened over the weekend. Fox:
The U.S. is less dependent on production in the federal Gulf of Mexico, where hurricanes are more likely to cause disruptions. In 1997, 26% of the nation’s natural gas was produced there. By 2012, the Gulf of Mexico’s share fell to 6%. Oil production has also made a big shift to inland basins, thanks to booming shale plays in North Dakota and Texas. The Gulf’s share of crude oil production in the U.S. narrowed to 19% last year from 26% in 2007 to 2011.Therefore, the impact of hurricanes on oil and natural gas production has been l... more »


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