Both companies said they are
accelerating shale drilling in the Permian Basin of west Texas and New Mexico, the largest U.S. oilfield, helping to lift the nation's output so far this year to more than 10 million barrels per day, a new record.
However, the stark reality is that global emissions have
accelerated (Fig. 1) and new efforts are underway to massively expand fossil fuel extraction [7]--[9] by
drilling to increasing ocean depths and into the Arctic, squeezing oil from tar sands and tar
shale, hydro - fracking to expand extraction of natural gas, developing exploitation of methane hydrates, and mining of coal via mountaintop removal and mechanized long - wall mining.
Meanwhile, the ongoing American
shale gas boom — powered in part by decades of federal investments in
shale drilling technologies — is
accelerating the closure of US coal - fired power plants.