Skip to comments.U.S. May Overtake Saudi Arabia As World’s Top Oil Producer
Posted on 10/24/2012 9:59:59 PM PDT by neverdem
NEW YORK (AP) - U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer. Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.
The boom has surprised even the experts.
"Five years ago, if I or anyone had predicted today's production growth, people would have thought we were crazy," says Jim Burkhard, head of oil markets research at IHS CERA, an energy consulting firm...
(Excerpt) Read more at cnsnews.com ...
The “boom” has NOT surprised me, or listeners to ISPYRADIO....Dr. Daniel Fine predicted this a few months ago!
Thank you, Obama! /s
my first thought was then build some damned refineries
i am nowhere near oil patch these days unlike late 70s and early 80s when TX, LA, MS and OK were always full of trucks carrying mud, drill bits, trip pipe and board road lumber...as well as of course rigs
is it like that now in the oil patches?
What happened to Peak Oil?
Not if the liberals can help it
More Asocialist Press propaganda..........once Bush 43 assumed office drilling/uncapping/pumping commenced big time and has been big time ever since, er, except where restricted or prohibited by O.........unexpected? I THINK NOT!
AP is a liberal rag in the tank for Obama.
While good news, this is more cover for Obunga’s flailing campaign.
Now, let’s vote out the islamist and really open the spigot.
No thanks to Obama, the EPA and Salazar, all of whom have significantly reduced permits.
This production is due to private enterprise on other than Federal land. ....Elect Romney and majorities in the Legislature and then watch our energy production take off!
You have to check the alleged Turk promise to the Kurds.
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I live in the Bakken and the first well drilled using fracking happened on my route in 2006. It is chaotic here. I'm loving it!
The bad news is that fuel products were the largest U.S. export in 2011 -- for the first time since the 1940s.
Before anyone gets too excited about all this, just realize that with the declining U.S. dollar and $16T in Federal debt alone (not to mention state and local debt obligations), we're slowly becoming a Third World country where we won't even be able to afford to buy our own resources.
Wait until the “surprise” EPA sanctions start being implemented in January....
It is election season. The piece is from NEW YORK (AP).
It is Obama propaganda
I worked for a seismograph company in Eastern Montana/Western North Dakota in 1968 - 1969. The geologists knew there was oil there, they just didn’t know how to get it out. We located some minor production South of Williston and East of Culbertson, but nothing like is happening now. Great to see it take off like it is and know that years ago I had a tiny role in it.
Thanks for the ping!
It’s time to build refineries! >>
you can say that again, notice it’s election time and the price of gas is down, as low as $3.15 a gallon.