Posted on 12/27/2013 3:27:50 PM PST by 2ndDivisionVet
Hey, remember that one time — er, actually, those many times over the past four or five decades — that eco-”experts” were predicting that we were all teetering on the brink of a “peak oil” crisis, the likes of which would throw the entire world into a state of perpetual famine and war over sating our gluttonous demand for the planet’s ever-shrinking oil reserves?
As entertaining as that particular brand of determined Malthusian fear-mongering can be, we have somehow managed to sail right on past all of the proffered deadlines for those imagined doomsday scenarios. Indeed, largely thanks to innovations in hydraulic fracturing revolution, the U.S. is already flirting with its own record high for crude-oil production, and 2013 marks the biggest acceleration in that oil output we’ve ever had, via Fuel Fix:
The United States’ average daily oil production is on track to surge by 1 million barrels per day this year, the biggest one-year jump in the nation’s history, according to federal data.
The country has pumped an average of 7.5 million barrels of crude per day in 2013, up from 6.5 million barrels per day in 2012. That breaks last year’s record, when oil production jumped by 837,000 barrels per day between 2011 and 2012.
And this is after oil production declined in 29 of the 40 years between 1971 and 2011. I’ve said it before, and I’ll say it again: President Obama is the very fortunate and incidental beneficiary of technological innovation and a subsequent oil-and-gas boom, on lands the federal government doesn’t control, and that have helped out quite a bit with an otherwise lackluster rate of economic and job growth. All of that means that 2014 is going to a big year for issues concerning all manner of oil-and-gas exports as well as renewed pushes for further offshore drilling and more drilling on federal lands, as energy companies and states all look to cash in further on one of the biggest economic boons of the day.
stock tickers CLR and KOG
Remember how the Libs used to rail at GW and Sarah Palin about drilling permits, and that it took years to get the oil out of the ground when you started. Looks like we can thank them for our current oil boom. Now about our current Dear Leader......
a development that began with investments made before Obama was ever POTUS
it shows just one more example for why EVERYONE on every side of the aisle to stop attributing EVERYTHING occuring simply at a time when a particular POTUS is in office as anything automatically attributed to them - sometimes they are, but quite often they are not
It goes right along wiht the least drop in oil & gas prices due to the biggest oil boom ever!
Thanks government and EPA! You are so good at looking out for the working man!
AND.................... they havnt even TOUCHED the oil sands and shale yet.. in Wyoming, Utah and Colorado..
Not to speak of untouched oil deposits on federal land in Alaska..
Three years ago I started hauling scoria and gravel to “ locations “ on the bakken.
The first one I hauled to had yet to be drilled upon.
Today it has 6 pump jacks on it producing oil .
We’re consuming about a million less barrels of oil per day than we were a few years ago, and our U.S. oil consumption will continue to go down with the economy. Meanwhile, a few folks will continue to make money by selling oil and associated products to countries having millions of new drivers every year and increasing manufacturing.
And where the GREEN RIVER FORMATION weighs in at 3 TRILLION BARRELS of oil.
For those who want to see a 6 minute video showing how horizontal drilling and fracking is done, Northern Gas and Oil has done a great one.
This includes a piece on how groundwater contamination is avoided:
http://www.northernoil.com/drilling-video
Knowledge is power, keep the link and pass it on.
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