Skip to comments.US could outproduce Russia, Saudi Arabia in oil and gas
Posted on 06/13/2012 5:08:21 AM PDT by george76
The United States is seeing a dramatic surge in oil and gas production and could overtake the world's biggest producers, Russia and Saudi Arabia, in another decade, a US official said.
"Some of the numbers are eye-popping," Daniel Sullivan, commissioner in Alaska's department of natural resources, told a panel of experts at the International Economic Forum of the Americas in Montreal.
In the last quarter the US produced six million barrels of conventional and unconventional oil a day, he said, adding: "We haven't done that in 15 years."
Since 2008, the US added 1.6 million barrels of additional oil, and in 2011, the US registered the largest increase in oil production of any country outside of OPEC...
These figures compared to a daily output in March of about 9.923 million barrels a day by Saudi Arabia, the largest producer of the OPEC nations, and 9.920 million by Russia,
(Excerpt) Read more at france24.com ...
It’d be good to bankrupt Saudi Arabia and Whabbism.
Too bad we don’t have the refinery space to handle rhe oil
Keep in mind; this isn’t because of government policies. It’s despite them.
Do you realize that this could make the United States of America actually “energy INDEPENDENT?”, free of economic pressure from those who loathe and hate us?
What chance is there that the leftists and/or environmental kooks will allow this to happen?
I shudder to think of the evil profits to be garnered by those awful people at BIG OIL. Those nasties will be creating JOBS, paying taxes on profits, and spreading economic activity throughout the nation.
Never happen. /s big time
It’s funny how liberals swear that more production will NOT bring down the price at the pump yet today I read that Trump claims that Saudi Arabia is pumping at record levels to lower prices to help Obama!
Add the word “TODAY” at the end of your accurate post. I think that there are many plans to build additional refineries
in the country. JOBS??
I am quite convinced that most of the liberals who spew crap like this don't believe a word of it. They just want 50+% of the voters to believe it.
We could but Obama says we can’t.
?? We refine much more oil than either Saudi Arabia or Russia produces in total.
We have the refinery capacity as about the same amount of crude oil that Saudi Arabia, Russia AND Iran export taken together.
We could more than double than our current crude oil production and not reach the amount we refine today. Most of the crude oil we refine is imported.
Data to support the statements above:
US Crude Oil Production
US Refinery Utilization and Capacity
Top World Oil Net Exporters (and production from pick box)
U.S. Crude Oil Imports by Country of Origin
Its because the price of oil quadrupled from $25 to $100 per barrel, plus the development of high pressure fracking technology.
If you go back 10 years there wasn't much profit in producing oil in the Bakken shale or the Canadian tar sands, but now it is very profitable.
When libtards say “energy indepedent” they really mean “oil independent”. I just wish that they would just come out and say what they really mean - that way more of the population would hate them.
Obama and the eco-freaks he caters to can’t have this! They prefer we buy our oil from foreign countries and that we don’t have these hundreds of thousands of oil field jobs at home. These are guy’s jobs! Unlike the desk bound jobs of gov’t apparatchiks that Obama and his ilk favor. Parasites don’t get what a producer job in the private sector is all about but they sure like to skim some of their earnings (via taxes)
We citizens must ban together and make sure we have sufficient refineries to take care of the oil. We can do it.
Good point. I am a bit amazed at the resiliency of this battered economy. Imagine if the brakes were released.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.