TV News LIES

Saturday, Apr 13th

Last update06:51:06 AM GMT

You are here News Energy US may soon become world's top oil producer

US may soon become world's top oil producer

E-mail Print PDF

US oil productionU.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."

More...


Most Recent Related Stories...


US energy industry gas leaks are triple the official figures, study finds

US indsustry gas leaks US oil and natural gas wells, pipelines and compressors are spewing three times the amount of...

Ukraine withdraws from Avdiivka, in Russia's first major battlefield win in months

Ukraine withdrawing from AvdkivkaRussian troops have occupied the eastern Ukrainian town of Avdiivka after a months-long assault that wore...

Schumer calls for new government, 'course corrections' by Israel

Chuck Schumer Senate Majority Leader Chuck Schumer is calling for new elections in Israel, describing Prime Minister Benjamin...

‘Smoking gun proof’: fossil fuel industry knew of climate danger as early as 1954, documents show

Fossil fuel industry knew of dangersThe fossil fuel industry funded some of the world’s most foundational climate science as early as...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!