The fact that revenue figures for Strategic American Oil Corp. continue to rise clearly helps the company’s image in the financial marketplace, but Strategic, and companies like it, also play a role in redefining America’s position in the energy marketplace. Strategic American Oil is a growth oriented domestic oil and gas production and exploration company, with operations in the continental U.S. Over and above the company’s individual performance, which has been strong, Strategic’s focus on domestic resources is important for its contribution to the country’s long term energy security and overall economic health.
In 2010, the U.S. consumed, on average, over 19 million barrels of petroleum products every day, with roughly half of it coming from outside countries. Such imports had less to do with a lack of domestic oil resources than with basic economics, specifically the fact that importing oil is often simply cheaper than producing it in the U.S. The numbers, of course, don’t take into consideration potential long term costs to the country, from a weakened balance of trade, to lost jobs, and inherent risks that come from depending upon outside sources for such a critical commodity.
But the numbers have been changing, as advanced detection, simulation, and production technologies have brought old wells back to life and have led to significant new domestic discoveries. As a result, and admittedly with help from a sluggish economy, net petroleum imports have actually been decreasing since 2005, and are now approaching levels not seen since the mid-1990s. With roughly a quarter of America’s trade deficit coming from oil imports, such improvements are noteworthy. Add to this the fact that it also represents more jobs, at many different levels of the economy, and the significance of rising domestic production becomes clear.
Strategic American Oil targets known resources and existing wells, as well as strong exploration opportunities, in Texas, Louisiana, and Illinois. The company actively acquires production, reserves, or other companies that are believed to provide significant growth potential, and the company’s financial position has steadily improved.
For additional information, visit www.StrategicAmericanOil.com
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