Posted on 07/02/2014 4:29:55 AM PDT by thackney
exas now is pumping 36 percent of the nation’s oil, more than doubling its production in three years, according to new federal data.
The Energy Information Administration reports that Texas oil production topped 3 million barrels per day in April, for the first time since the late 1970s.
Nearly as much crude flowed from Texas as from Iraq, which was the second largest OPEC producer in April at about 3.2 million barrels per day, according to Bloomberg. The news agency estimates that Iraq’s production fell to 2.9 million barrels in June amid insurgent violence. That would drop it below Texas if the state’s supply continued to rise, as it did every month since 2011.
North Dakota’s crude production has grown even faster, jumping 185 percent over the three years ending April 2014. That month, North Dakota pumped more than 1 million barrels per day for the first time ever.
Together, Texas and North Dakota supplied nearly half of the nation’s domestic crude in April.
In total, the United States pumped 8.4 million barrels per day that month. Excluding Texas and North Dakota, oil production in all other states combined grew just 10 percent, according to EIA data.
Meanwhile, despite the resurgence of oil and gas activity in the Gulf of Mexico, that region’s share of the U.S. crude supply has declined to 17 percent, from 27 percent in 2010, the EIA noted.
This chart shows total oil production in North Dakota and Texas versus all other states since January 1981, in thousands of barrels per day:
This isn’t possible. I have a 1973 National Geographic Magazine that said the World would be out of oil by the turn of the century...
I remember reading also, that, due to over population, the entire world experience wide spread famine by 1975. I think that one fell just a tad short too, didn't it?
Peak Oil was the BS the Red-greens were pushing 5 years ago before they moved on to “climate change”.
It also isn’t possible to do it in 3 years. Everyone knows it takes at least 10 for new production to come on line. /s
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That depends on the location.
Comparing Texas with roads, pipelines, support infrastructure already in place to a undeveloped area hundreds of miles from the nearest paved road and 10 years, from the decision to allow exploration, can be a tight schedule. And 10 years from allowing exploration offshore is really tight in a new area.
Huh?
How is that figured?
The first chart there shows Texas PLUS N.D. barely catching up to the rest of the U.S.
So, how could it be topping the #2 country?
Texas and North Dakota have saved barky’s bacon despite himself.
Nearly as much crude flowed from Texas as from Iraq, which was the second largest OPEC producer in April at about 3.2 million barrels per day,
..............
The ISIS invasion in Iraq means that no oil companies will invest any more in Iraq until the political situation there settles down. That means that minimally, the result will be that there will be no more production increases from Iraq as long as there is political instability there.
Together, Texas and North Dakota supplied nearly half of the nation’s domestic crude in April.
In total, the United States pumped 8.4 million barrels per day that month.
.............
Considering that the USA was pumping 8 million barrels per day in dec 2013—growth rates here make it look like US oil production is going to blow through 2015 EIA oil production forcast of 9.4 million barrels@ day.
Summer month growth rates this year are going to be pretty high as bakken and eagle ford go to the top of their growth phase and weather permits.
Texas and North Dakota have saved barky’s bacon despite himself.
...........
This is the real downside of all this.
Despite doing everything he can to kill the oil/gas boom—this stuff is going to make O look good. And of course he’ll take credit for it.
Clinton did much the same thing back in the late 90’s.
The #2 OPEC member oil producing country is Iran.
They currently produce 3.33 MMBPD.
http://www.opec.org/opec_web/static_files_project/media/downloads/publications/MOMR_June_2014.pdf
Page 56
Texas is producing 3.01 MMBPD.
North Dakota is producing 1.00 MMBPD.
Duh.
I think it would be misleading to describe the US as an exporting country. While technically accurate, we import about 30 times as much oil as we export.
Crude Oil Exports by Destination
http://www.eia.gov/dnav/pet/pet_move_expc_a_EPC0_EEX_mbblpd_m.htm
Crude Oil Imports by Country of Origin
http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
True, but that is what I was mistakenly thinking.
We produce oil.
We export oil.
I was thinking the claim was about producing and exporting countries, but it’s really about OPEC countries, which doesn’t include us.
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