Liam Denning, Columnist

Ta-da! America’s Shale Boom Makes a New Mexico

U.S. oil and gas production keeps defying expectations, including a nation-sized surge this year.

November 1, 2018 at 12:52 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

It’s like magic.
Photographer: Spencer Platt/Getty Images North America

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The contrast between the success of the U.S. oil and gas industry and unpopularity in the stock market grows ever starker.

The Energy Information Administration released revised monthly figures for U.S. oil production on Thursday. The headline is that production is up — way, way up. It reached 11.35 million barrels a day in August, fully 2.1 million barrels a day higher than a year before. That’s almost like adding a whole new Mexico in the space of 12 months.