AUSTIN, Texas, May 16, 2012 /PRNewswire/ -- TAP Management Austin TX reviews oil and gas consumption patterns and how they affect our global economy. Despite the recent focus on alternative fuel exploration, oil continues to play an essential role in our transportation infrastructure. In fact, ExxonMobil's most recent edition of Outlook for Energy predicts that by the year 2040, 90 percent of the global transportation methods will still be powered by petroleum fuels.
Gasoline, diesel and jet fuel provide a level of affordability, versatility and convenience that is unmatched by alternative energy resources. The dense amount of energy provided by these fuels, especially when compared to the concentration of other developed energy resources, is the primary reason for our continued reliance on petroleum.
During the last decade, the price of oil has fluctuated drastically, typically in a cyclical pattern that mirrored the global economic climate. Oil prices have risen sharply this year due to an increase in global demand, and a disruption of supply from the Middle East. This hostile political climate and our dependence on foreign oil have adversely affected the price of gas for American consumers.
In an effort to combat these external factors, the domestic production of oil and gas has experienced an exponential increase in recent years. A New York Times article published on March 22, 2012, titled "U.S. Inches Toward Goal of Energy Independence" stated that in 2011, the United States imported 45 percent of the liquid fuels we used. This figure is down from a record high of 60 percent in 2005.
Although the United States has sought independence from foreign energy sources for decades, the federal government has been under intense pressure to reduce the spiraling gas prices. As a result, the Obama administration has recently announced new procedures to speed-up processes for onshore drilling permits, and opened new federal lands and waters for drilling.
About TAP Management:
TAP Management has contributed to the increase of oil and gas production in the South Texas, Gulf Coast, Rocky Mountain and Mid-Continent regions. Since its founding in 2005, TAP Management Austin TX reviews oil and gas prospects in fields that meet the criteria of the company. By utilizing 3D seismic technology, forced pooling methods and purchasing existing productions, TAP Management has developed a successful portfolio of producing assets throughout these regions. We are dedicated to decreasing our nation's dependence on foreign oil and gas, and improving the quality of life for Americans.
For more information on TAP Management, Inc. visit www.texog.com
SOURCE TAP Management, Inc.