TV News LIES

Thursday, Aug 25th

Last update05:20:13 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...


A Plane Just Flew Around The World Without A Single Drop Of Fuel

Plane without fuel goes around the worldMore than a year after it first took to the skies, a solar-powered plane has completed...

Nuclear reactor at Indian Point plant in N.Y. shut down again after leak found

Indian Point reactor leakOne of two reactor units at a nuclear power plant near New York City has been...

Knife Attack In Japan Leaves At Least 19 Dead, Local Media Report

Japan knife attackNineteen people were feared dead and 45 injured after an attack by a knife-wielding man at...

North Dakota rig count up more than 10 percent

N Dakota rigging up ten percentNorth Dakota saw the number of rigs actively exploring for or producing oil and gas increase...
 
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!