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US Could Be Biggest Producer Of Oil And Gas

From France’s Agence France-Presse:

US could outproduce Russia, Saudi Arabia in oil and gas

By Judi Rever | June 12, 2012

The United States is seeing a dramatic surge in oil and gas production and could overtake the world’s biggest producers, Russia and Saudi Arabia, in another decade, a US official said.

"Some of the numbers are eye-popping," Daniel Sullivan, commissioner in Alaska’s department of natural resources, told a panel of experts at the International Economic Forum of the Americas in Montreal.

In the last quarter the US produced six million barrels of conventional and unconventional oil a day, he said, adding: "We haven’t done that in 15 years."

Since 2008, the US added 1.6 million barrels of additional oil, and in 2011, the US registered the largest increase in oil production of any country outside of OPEC, he told hundreds of participants.

But aren’t we constantly told that we are running out of oil?

By the way, most of these oil production is coming from land that is still out of the control of the federal government. Just imagine how much more oil we could produce if Obama would take his boot off of the throat of the oil industry.

These figures compared to a daily output in March of about 9.923 million barrels a day by Saudi Arabia, the largest producer of the OPEC nations, and 9.920 million by Russia, according to the industry data compiler Joint Organizations Data Initiative.

Sullivan said the respected consultancy, PFC Energy, had estimated that by 2020, "the US could be the largest hydrocarbon producer — that’s oil and gas — in the world, overtaking Russia and Saudi Arabia."

In Alaska alone, the potential off the coast was viewed as the largest of any country, about 40 billion barrels in conventional oil, according to the US Geological Survey.

None of this will ever happen if Mr. Obama has his way. He wants us to continue our dependence on foreign oil at all costs. Literally.

US President Barack Obama has indicated that offshore oil resources could help mitigate global disruptions in supply, and his administration has tried to craft an energy strategy that balances business interests with environmental concerns, especially in the Arctic

And he intends to achieve this balance by in effect banning all oil exploration and drilling via refusing or delaying permits.

Sullivan argued that the benefits of the shift in energy security could be substantial, especially in terms of growth and jobs for a country where half the US trade deficit is due to imports of oil.

He said in 2010-2011, there were 600,000 jobs created in the shale oil and gas industry

Just imagine what the unemployment rate would be without this drilling and fracking. Just imagine the state of the economy in general.

But don’t worry. After the election Mr. Obama will have a lot more ‘flexibility.’ And he will find a way to put an end to all of this nonsense.

This article was posted by Steve on Wednesday, June 13th, 2012. Comments are currently closed.

5 Responses to “US Could Be Biggest Producer Of Oil And Gas”

  1. GetBackJack says:

    Why yes we can! And then I can let my 572ci Chevy Big Block out to run without costing me an arm and a leg, so I’m all for it, baby.

  2. Astravogel says:

    If it were possible to follow the money, the actions
    of TCP might be based on some financial support
    from foreign oil producers. Duck anatomy comes
    to mind.

  3. crosspatch says:

    The problem here is refining capacity. We still haven’t built any major refineries in 30 years and Obama’s EPA regulators are trying to take a large portion of East Coast refining off line due to changes in pollution regulations. So we will see an increase in crude production but still see the price of refined products increase because we have no refinery capacity.

  4. Astravogel says:

    According to the Drudge Report, Donald Trump thinks
    there’s some deal with the Saudi’s to keep oil prices low
    until after the election, with record rises after that event.

  5. GetBackJack says:

    Natural gas can easily replace petroleum in our vehicles.

    1. Virtually no refining required.
    2. Virtually no physical facilities required that we don’t already have
    3. Burns much cleaner than petroleum
    4. Far less corrosive to interior engine wear

    … and we’ve got so much of the stuff we can power all our electrical generation plants and our vehicles for nigh on to 1,000 years and not deplete our reserves.

    So, thinking it through, logic dictates that Congress is bought and oaid for by interests that cannot stand the idea of us being energy indepependent

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