Energy Industry - Essay Example

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Energy Industry

Alaska, California, Louisiana succeedingly ranked in its respective slate in 1989 for generating 41% of oil but have degraded its supply contribution to 17% of total oil output recently (Styles, 2013). This decline is supplemented with the development of extractive industry at New Dakota which replaced Alaska in 2012and is contributed further by Colorado, Oklahoma and New Mexico’s rigs (Styles, 2013). The risk however is showed by oil generation reduction when the principal pipeline of onshore oil production became a funnel for oil importation (Styles, 2013). There is imminent reduction of New Mexico’s oil supply too following the Deepwater Horizon incident in 2010 (Styles, 2013). Economists recognized that the challenged nowadays is how the oil supplies from the upper part of the country to be distributed in the regions needing more of oil supply efficiency for domestic market demands (Styles, 2013). Such meant that the company therefore should be re-strategizing its ways to balance the distribution of oil from region with crude surplus to other areas by transporting or shipping the refined products via multiple tankers to the Midwest (Styles, 2013). ...Show more

Summary

Title Name of the Student of the Professor The United States have gained the global prominence as leader in the production of oil in this century although there are critical setbacks on its level of distribution, based on reports…
Author : celestino16
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