Trump won and good news started to fly all over America!
Look what Texas gave to America today! This is the biggest gift to America!
We need more good news like this in the future!
Good news for the American Energy Renaissance: a new field with massive reserves of oil has just been discovered in Texas.
During the past decade, the United States has seen a massive increase in oil output thanks to increased exploration and drilling in Texas and the Midwest. Places like North Dakota and Texas have had massive economic growth fueled by the oil boom.
Now, in West Texas, a new field has been discovered that is bigger than any other reserve of oil here in the United States.
The has more details:
One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
The estimate lends credence to the assertion from Pioneer Natural Resources Chief Executive Officer Scott Sheffield that the Permian’s shale could hold as much as 75 billion barrels, making it second only to Saudi Arabia’s Ghawar field. Irving-based Pioneer has been increasing its production targets all year as drilling in the Wolfcamp produced bigger gushers than the company’s engineers and geologists forecast.
“The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” Walter Guidroz, coordinator for the geological survey’s energy resources program, said in the statement.
Trump is going to unleash all economic power of America!
There were reports these days that Trump won these elections because Obama failed to reach the goal of doubling US GDP, he rise it only 23% during his term in White House.
Obama hoped that if he managed to double America’s GDP, the wages and unemployment will fall dramatically, but that did not happened.
Now Trump will try to do exactly that. And with trade reforms, lowering regulation and taxes and more liberal laws about energy production from fossil fuels and not abiding to global worming concerns, Trump will manage to rise wages and employment and with mass deportation of illegals, that will guarantee higher wages as work force is going to be scarce and companies are going to pay higher wages.
But some worry that higher wages will make US companies not competitive on the world markets, we will see.
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