Another interesting article from our favorite government agency, the U.S. Energy Information Administration (EIA). We all know that drillers spent a lot less last year than the year before on drilling. How much, on average? According to new research by the EIA, mining and exploration investment (which includes oil and gas and coal) declined 35% in 2015, the second largest year-over-year decline since the U.S. Bureau of Economic Analysis (BEA) began reporting the series in 1948. Did you catch that? Last year investment in oil and gas decreased the second largest amount since the government has kept records on it. Wow. This year promises even more cuts. Here’s what the EIA says in their latest report…
