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Wed Oct 24, 2012, 06:50 AM

U.S. May Soon Become World's Top Oil Producer


http://www.manufacturing.net/news/2012/10/us-may-soon-become-worlds-top-oil-producer?et_cid=2911405&et_rid=54679148&linkid=http%3a%2f%2fwww.manufacturing.net%2fnews%2f2012%2f10%2fus-may-soon-become-worlds-top-oil-producer

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.

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. That would be a record for the U.S. and just below Saudi Arabia's output of 11.6 million barrels. Citibank forecasts U.S. production could reach 13 million to 15 million barrels per day by 2020, helping to make North America "the new Middle East

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Reply U.S. May Soon Become World's Top Oil Producer (Original post)
eridani Oct 2012 OP
liberal N proud Oct 2012 #1
dipsydoodle Oct 2012 #2
JackN415 Oct 2012 #3
Shankapotomus Oct 2012 #4
FBaggins Oct 2012 #5
Javaman Oct 2012 #6
NickB79 Oct 2012 #7
happyslug Oct 2012 #8
eridani Oct 2012 #9
happyslug Oct 2012 #10

Response to eridani (Original post)

Wed Oct 24, 2012, 06:54 AM

1. At a cost too high to tolerate

The environmental cost is going to kill this land.

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Response to eridani (Original post)

Wed Oct 24, 2012, 07:11 AM

2. "the new Middle East"

So the US will be able to attack itself.

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Response to dipsydoodle (Reply #2)

Wed Oct 24, 2012, 07:23 AM

3. Now you know why the RW and neocons are so hell bent to take over the US...

 

It's oil my friends!!!! No self-respected neocons pass up an opportunity to control oil rich country.

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Response to eridani (Original post)

Wed Oct 24, 2012, 08:12 AM

4. If we already produce that much oil

why haven't we weaned ourselves off of foreign oil yet?

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Response to Shankapotomus (Reply #4)

Wed Oct 24, 2012, 09:12 AM

5. Because we consume even more than that.

Quite a bit more in fact.

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Response to Shankapotomus (Reply #4)

Wed Oct 24, 2012, 09:45 AM

6. Because we have 5% of the worlds population and use 25% of it's resources. nt

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Response to Shankapotomus (Reply #4)

Wed Oct 24, 2012, 02:17 PM

7. 19 million barrels per day used, 11 million barrels produced

We're still using 8 million barrels per day more than we make.

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Response to eridani (Original post)

Wed Oct 24, 2012, 09:28 PM

8. Topic was listed on Tuesday, here is the previous thread

The actual source was Associated Press, but the Newspaper was different (Through the article was the same).

http://upload.democraticunderground.com/1014276532

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Response to happyslug (Reply #8)

Thu Oct 25, 2012, 01:02 AM

9. Sorry--half the time I'm online the search function is down n/t

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Response to eridani (Reply #9)

Thu Oct 25, 2012, 02:03 PM

10. Nothing to be sorry, about it happens all the time

If someone catches it, like I did, they should point it out to the poster and anyone else who sees that post. On something like DU, that is all that can be expected.

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