Skip to comments.REPORT: US Could Produce 12 MILLION Barrels Of Oil A Day By 2019
Posted on 05/09/2018 9:21:24 AM PDT by rktman
U.S. crude oil production could top 12 million barrels per day by the end of 2019, according to the latest Energy Department (DOE) forecast released on Tuesday.
The U.S. Energy Information Administration, the DOEs statistics arm, (EIA) projects U.S. crude output would grow by more than 1.5 million barrels per day over the next two years, primarily as the result of abundant shale oil and gas reserves.
EIA projects the U.S. will average 11.9 million [barrels per day (b/d)] in 2019, 0.4 million b/d higher than forecast the agency released in April. Now, EIA forecasts U.S. crude oil production will end 2019 at more than 12 million b/d.
Source: U.S. Energy Information Administration
Hydraulic fracturing, or fracking, has allowed companies to access vast reserves of oil and natural gas, precipitating an energy boom thats completely reversed the U.S.s energy future.
The Trump administration has harnessed energy dominance as part of its foreign and domestic policies. The White House has aggressively pushed a deregulation agenda thats targeted Obama-era regulations seen as harmful to energy production.
U.S. oil production hit a record 10.25 million barrels per day in early February, beating out the old record from November 2017. Oil exports averaged more than 2.3 million barrels per day in April, a record, according to EIA.
(Excerpt) Read more at dailycaller.com ...
That’s still 8m barrels short of daily consumption.
Black gold. Texas tea.
Drill baby, drill!
Between domestic production and what well be able to import from Canada once Keystone is built, we are very soon going to be energy independent again.
How can this be??? I though the enviro-nuts said we would have no oil left decades ago? These eco-LIB-lunatics wouldn’t lie...would they?
Well, the first thing you know - old Jeb's a millionaire.
Probably not as quickly as a lot of folks have predicted. Nevertheless, it makes a lot of sense to develop practical alternatives, such as nuclear & coal (after all, the US is "the Saudi Arabia of coal"). Everytime the Left condemns oil, coal AND nuclear, I am reminded of the old 'Earth First!' slogan:
"BACK TO THE STONE AGE!"
Kind of reveals their real intentions...
According to wikipedia, $25 million when the show started in 1962.
(I remember it as $40 million, but maybe that was later in the show’s run.)
“Between domestic production and what well be able to import from Canada once Keystone is built, we are very soon going to be energy independent again.”
Coal. Mine it and ship it overseas. The money’s as good as the demand. China, India. A few nuke plants and build Yucca mountain. Take in the wastes of our allies for a good price. I’d even install solar if I could break even in 5 years-not 10. Digital salute to OPEC.
It makes sense that some onshore markets in this country may find it cheaper to buy foreign oil instead of shipping US oil to their location and running up higher shipping costs.
Trump needs to work on allowing more refineries.
Yes, and what means did he use for the discovery? A firearm.
That’s one reason that we import 500K barrels a day from Venezuela.
Ah yes, Venezuela. When the socialists are preferably hung perhaps we can help them flood the market with their own oil. Next, Iran.
The Democrat Thug Party worked hard to prevent this potential.
I wonder how long that will last.
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