After decades as a net importer of oil, America has become a dynamo of energy exportation and innovations in fracking have opened up access to shale fields that were previously unreachable.
One hurdle the Bakken does face is the lack of larger refining facilities in the area, although a solution to that may have been put into motion last week as a construction permit for the Davis Refinery was issued to Meridian Energy Group. The plant, touted as “the cleanest refinery on the planet” by Meridian’s CEO, can process 49,500 barrels per day of crude. In fact, the group has reconfigured the plant’s design to better adapted to fracking technologies and shale fields, something not considered in almost 50 years.
Along with a number other refineries in various stages of construction, industry experts saw the move as a sign that the oil is not a temporary boom, but a reemerging industry.