November 28, 2012
A recent post by Vault Energy Solutions looks at the optimistic future of the U.S. energy sector and the leading role Texas will play in transforming the U.S. The piece, entitled "How Texas Will Lead America’s Energy Future," discusses a recent report by the International Energy Agency which predicts that the U.S. will be the world’s number one oil producer in the next several years and how Texas leadership will help build such a future.
The U.S. Saudi Arabia and Russia in oil production by the year 2015. Texas, as the state that produces the most oil, is at the center of the new U.S. oil boom. This oil resurgence is made possible by new technology that has revolutionized the oil industry in much the same way the natural gas industry was transformed.
Deposits of oil found in certain shale rock formations were once thought to be impossible to reach in an economically viable way. But new horizontal drilling techniques have unlocked vast swaths of oil rich land in Texas. Texas already has the experience, infrastructure, and culture to exploit these new finds.
In addition to being a leader in oil production, Texas also leads the country in the production of natural gas. The state uses natural gas to power much of its electricity grid. The abundance of natural gas brought about by the new drilling technology has helped to drive down the price of natural gas substantially. This, in turn, has pushed down Texas electricity rates. Cheap commercial electricity rates bring down the cost of doing business in Texas leading to further economic growth.
Beyond fossil fuels, Texas is also a leader in renewable energy. The state boasts the largest wind energy sector in the country. The state, in fact, generates more electricity from wind turbines than all but a handful of countries in the world. Texas, with its abundant mix of traditional and renewable energy sources and business friendly regulations serves as a model for the U.S. going forward.
About Vault Energy Solutions
Vault Energy Solutions owns and operates the popular consumer website VaultElectricity.com. The site provides news and analysis on energy related topics and the impact of energy policy on consumers and the electricity rates they pay. In addition, the site offers electricity rate comparison tools to help consumers choose from the dozens of Texas electricity providers which offer service in the state. Texas is a power to choose state where consumers can shop for the cheapest electricity rates among competing electricity companies.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/11/prweb10169986.htm