We're Drilling, Baby

While everyone is talking about the “natural gas revolution” these days, slowly and quietly one other surprise has been taking shape: a revival in domestic oil drilling. As of mid-April, the number of oil drilling rigs passed up the number of gas drilling rigs in the United States, according to the Baker-Hughes rig count released this week by the Energy Information Administration. Ten years ago, as the figure displays, the ratio of gas to oil rigs was as high as four-to-one.