'Better regs needed' to boost US output

Working together: government and industry must join forces to realise the potential of North American oil and gas deposits

SXC.HU

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Luke Johnson

 15 September 2011 20:18 GMT

North American oil and gas resources are far greater than commonly assumed and their development depends on clearer and more efficient regulations from state and federal governments, a new report has concluded.

The report, which was released on Thursday by the industry-led National Petroleum Council, outlines several steps industry and government can take to responsibly and effectively develop North American oil and gas resources in the coming decades.

Shale deposits stand to provide a substantial portion of US oil and gas production in the future. The US could produce between 2 million and 3 million barrels of oil equivalent per day from these resources by 2035, the report says.

Continued development in the Canadian oil sands, in the Arctic and in the Gulf of Mexico…

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