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Oil & Natural Gas Development

America’s energy industry is critical to a strong and vibrant economy. In fact, our energy future depends on companies like Lowe to safely and reliably help provide the oil and natural gas our country needs to grow this economy, create quality jobs, and enhance energy security by decreasing our foreign dependence. Our energy industry provides an economic impact of $1 trillion annually and 9.2 million jobs.

The potential for future discoveries and production in oil and natural gas is very optimistic. In 1980, official estimates of proved oil reserves in this country were roughly 30 billion barrels. Yet over the past 30 years we produced 77 billion barrels in this country – that’s 2 ½ times the proved reserves we thought we had 30 years ago. We can be thankful to new and continuing developments in exploration and production technology. We have every reason to believe that today’s estimates of reserves will only be a fraction of what will be produced and delivered in the decades to come.

We have, right here in the United States, massive quantities of the most affordable energy resources right beneath our feet. Our access is really only limited by the governmental policies we adopt.

The United States has 1.4 trillion barrels of technically recoverable oil from a total of more than 3.7 trillion barrels of in-place resources. The richest most concentrated deposits of oil shale in the United States are found right here in Lowe’s own back yard, in the Green River Formation of Colorado, Utah, Oklahoma, Kansas and Wyoming.

All of North America is blessed with enough energy supplies to promote and sustain economic growth for many generations to come. These massive reserves were detailed to Congress when the Congressional Research Service of the Library of Congress released a report showing the United States combined recoverable oil, natural gas, and coal endowment is the largest on earth.

Lowe Energy believes the United States energy future looks bright, and we are proud to play a small part in safely and reliably developing these resources.

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