As the price of oil per barrel continues its steady slide, worries over production and demand for for the resource have been up and down in recent months.
The fracking boom of the last decade has not only increased production levels of American energy resources, but has also majorly impacted global energy prices.
The U.S. Senate voted down the proposed Keystone XL pipeline 59-41 on Nov. 18, falling one vote short of the necessary 60 to move forward, according to the Associated Press.
A new survey from Deloitte indicated in the past two years, there has been a 150 percent increase in the number of oil and gas executives who believe energy independence is only 5 to 10 years away.
Though some drillers and investors are worried about the effect of declining oil prices, the overall outlook for the oil and gas industry is a positive one, according to RigZone.
A joint venture between Enterprise Products Partners LP and Plains All American Pipeline LP will begin constructing a new terminal and expanding the pipeline capacity from the Eagle Ford shale formation in Texas, according to the Oil & Gas Financial Journal.