Posted on 10/23/2012 12:16:15 PM PDT by thackney
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 fuelfix.com ...
U.S. Crude Oil and Liquid Fuels
http://www.eia.gov/forecasts/steo/report/us_oil.cfm
The 2012 US crude oil production is expected to average 6.32 million barrels per day rising to 6.85 in 2013.
Achieved in spite of the Marxist in Chief. Imagine what would happen under a Romney Administration.
Note:
I have not found a source outside of AP for the following claim in the article:
The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year.
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The Department of Energy forecast I found online and linked above states 10.441 mmbpd by Dec 2013.
http://www.eia.gov/forecasts/steo/data.cfm?type=figures
Here’s the IHS report:
The report hows impact nationally and by state.
That report is for the production of Natural Gas, not Crude Oil not and all the associated liquid related to this claim.
It is a factor for the production of Natural Gas liquids.
Sorry. wrong study.
And they plan on a new oil refinery in the Bakken:
http://www.reuters.com/article/2011/11/21/us-bakken-diesel-idUSTRE7AK0EC20111121
http://oilpatchdispatch.areavoices.com/2012/10/10/refinery-planned-for-fort-berthold-reservation/
And there’s BILLIONS more refining capacity coming:
Let’s get back to $1.50 a gallon!
The liberal Democrats would never stand for the jobs and money that come with being the world’s top oil producer.
And all of that in spite of Obama cutting down on drilling permits on federal land. In this case, Obama, you really didn't build that.
What happened to the cliche’..... “It would take 10 years to see any oil production gains?”..
You’re probably right.
With the US producing prodigious amounts of oil energy would become cheap.
With cheap energy the US would once again become an industrial power house.
As an industrial power house the US could recover our position as the greatest exporter of goods in the world.
As a net exporter we could recover from our indebtedness and once again become an economic leader and once again become the banker of the world instead of the borrower of the world.
No the Democrats would never willingly allow the United States to once again become the Hedgimon of the world. For the Democrats freedom can not be allowed to win.
We started drilling in the North Dakota Bakken shale field in 1951. Production started in 1953. It has taken the industry many decades to develop the technology needed to produce these fields. It didn't happen overnight.
https://www.dmr.nd.gov/oilgas/stats/historicalbakkenoilstats.pdf
Not if I can help it! Vote for Me early, vote for Me often!
Thank you,
Barack
From the AP! Now isn’t THAT one really big surprise as the AP works overtime to repair Obama’s anti-oil image (FACTUAL anti-oil image, that is!)
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