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Tue Nov 13, 2012, 12:04 PM

US to become (world's) biggest oil producer by 2020

This discussion thread was locked as off-topic by muriel_volestrangler (a host of the Latest Breaking News forum).

Source: Al Jazeera English

The United States will become the world's largest oil producer by around 2020, temporarily overtaking Saudi Arabia, as new exploration technologies help find more resources, the International Energy Agency (IEA) has revealed.

In its World Energy Outlook released on Monday, the energy watchdog also predicted that greater oil and natural gas production - thanks partly to a boom in shale gas output - as well as more efficient use of energy will allow the US - to become nearly self-sufficient around 2035.

The US currently imports some 20 per cent of its energy needs.

This would be "a dramatic reversal of the trend seen in most other energy-importing countries," the Paris-based IEA said in its report. "

Read more: http://www.aljazeera.com/news/americas/2012/11/20121113134836285404.html



The Rachel Maddow Show

GOP complaints about Obama's energy policies seem a little silly in light of the International Energy Agency's new findings -- not only is oil production up over the last four years, but the United States will soon pass the Saudis as the top oil producer on the planet.

http://maddowblog.msnbc.com/_news/2012/11/13/15137576-the-worlds-top-oil-producer

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Reply US to become (world's) biggest oil producer by 2020 (Original post)
Turborama Nov 2012 OP
1StrongBlackMan Nov 2012 #1
happyslug Nov 2012 #2
DCBob Nov 2012 #3
happyslug Nov 2012 #4
DCBob Nov 2012 #5
1StrongBlackMan Nov 2012 #11
question everything Nov 2012 #6
JackRiddler Nov 2012 #8
liberal N proud Nov 2012 #7
JackRiddler Nov 2012 #9
toby jo Nov 2012 #10
muriel_volestrangler Nov 2012 #12

Response to Turborama (Original post)

Tue Nov 13, 2012, 12:22 PM

1. I caught the mourning {sic} joe show, this morning ...

and watched as that insufferable joe s commented on the story, in that particularly self-satisfied way he does ... until I screamed at the tv machine (and in the process, woke up a not too happy Mrs. 1StrongBlackMan).

I ask ... and ask ... and ask ... all these "drill-baby-drill/oil independance" promoters, that apparently failed every college-level economics course and/or course on the "free-market" system that we labor under ... "How does this benefit the U.S. consumer?"

The oil extracted DOES NOT belong to the U.S., or to US, it is owned by the oil concern that brought it out of the ground ... to be sold on the petro-market (or not) to the highest bidder, to be re-sold (or not) to a refinery (either domestic or foriegn) to be re-sold (or not) to a wholesaler to be re-sold (or not) to a retailer to be sold to a retail-level consumer.

IN THE BEST CASE, SHORT OF GOVERNMENTAL NATIONALIZATION OF THE DOMESTIC OIL INDUSTRY, THE ENTIRE DOMESTIC POSITION CAN INFLUENCE GLOBAL PRICES A COUPLE OF CENTS PER GALLON AT THE PUMP.

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Response to Turborama (Original post)

Tue Nov 13, 2012, 12:40 PM

2. How come NO ONE CITES THE ACTUAL IEA REPORTS, just reports on the IEA report

This is at least the THIRD thread on the IEA report, first was from Bloomberg, the second was from the New York times, and now Aljazeera.

Here is the Bloomberg report on this same IEA report to which I did respond with the actual reference to the IEA report:

http://www.democraticunderground.com/1014301394

If you do NOT want to go to the thread from yesterday, here is the Actual Summary of the IEA report:
http://www.iea.org/publications/freepublications/publication/English.pdf

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Response to Turborama (Original post)

Tue Nov 13, 2012, 12:41 PM

3. This is quite remarkable given the situation just a few years ago.

Who could have predicted we would be nearly self-sufficient by 2035? However, the danger here is that we become complacent again with developing alternative energy sources. This temporay bump in production will not last. Peak Oil will get us eventually.

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Response to DCBob (Reply #3)

Tue Nov 13, 2012, 12:43 PM

4. See my comments from yesterday, I suspect this is wishful thinking

Here is the thread that was started by a Bloomberg report of the IEA report being cited. my comments are on that thread, including my comment that this is based on $10 a gallon gasoline prices:

Actual Summary of the IEA Report:
http://www.iea.org/publications/freepublications/publication/English.pdf

Previous thread:
http://www.democraticunderground.com/1014301394

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Response to happyslug (Reply #4)

Tue Nov 13, 2012, 12:51 PM

5. Thanks for the link..

not surprised this is based on a high price of oil since the new extraction methods they are using now are very expensive.

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Response to DCBob (Reply #3)

Tue Nov 13, 2012, 02:25 PM

11. Who is "WE"?

Short of the U.S, Government nationalizing the domestic oil industry ... "WE" have gained nothing.

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Response to Turborama (Original post)

Tue Nov 13, 2012, 12:51 PM

6. And without the "drill, baby drill"

What will fair Sarah do now?

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Response to question everything (Reply #6)

Tue Nov 13, 2012, 01:38 PM

8. You are mistaken.

This is "drill, baby, drill," and much worse besides.

This is a plan to convert large sectors of this country into horrific wastelands in pursuit of a few years' worth of oil at most, contributing to air pollution and further delaying the inevitable conversion to alternative energies.

Incredibly short-sighted and stupid, but the short-term profits are great, so awaaaaaay we go.

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Response to Turborama (Original post)

Tue Nov 13, 2012, 01:12 PM

7. And by 2025 we will be out of oil


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Response to liberal N proud (Reply #7)

Tue Nov 13, 2012, 01:41 PM

9. Sounds about right.

If the brilliant hydrocarbons-forever plan is to blow up all the shale formations, turn the country into fracked-out wastelands, poison the aquifers, blow up the mountaintops, keep drilling on the ocean floor more than a mile down, and throw half the grain harvest into ethanol at zero net energy, what do you think is happening?

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Response to Turborama (Original post)

Tue Nov 13, 2012, 01:46 PM

10. I favor a 'guided capitalism' approach, but not for the energy dogs

In fracking for example, they set up a large segment of the population for exposure to their chemical-based drilling. "We'll be independent", they tell us. Then reports say they are selling to China.

To see this natural gas, and the oil resources of a region, any, not just the US, being thrown into the winds of global capitalism strikes me as over kill on their capitalist part. Sell the knowledge, and leave the resource for local consumption. We could become completely independent by rationing our carbon-based fuels while we work towards non-renewables.

We'll have to force the issue, though. It's not gonna go down that way if left to the market.

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Response to Turborama (Original post)

Tue Nov 13, 2012, 02:27 PM

12. Locking - duplicate thread

of http://www.democraticunderground.com/1014301553 . Please continue discussion there. Thanks.

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