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Pensacola Discussion Forum » Politics » Daily U.S. Oil Production Set to Grow to 5 Million Barrels Per Day by 2020

Daily U.S. Oil Production Set to Grow to 5 Million Barrels Per Day by 2020

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ZVUGKTUBM

ZVUGKTUBM

http://www.pennenergy.com/articles/pennenergy/2013/08/fttn-daily-u-s-oil-production-to-reach-5-million-barrels-before-2020.html?cmpid=EnlDailyPetroAugust272013

"...oil production in the United States has increased by 1.5 million barrels per day since 2008, making the U.S. the country with the highest oil output growth in the world..."

"...With the expertise and technology available in the U.S., this growth is expected to continue. In fact, before 2020 North America’s daily oil production could reach 5 million barrels, while natural gas liquids could be as much as 5.5 million barrels of oil per day...."
 
Oil production has greatly increased since the COWH became president, a fact supported by the oil industry. This kind of refutes the wingnut notion that Obama is curtailing oil production by not allowing drilling on federal lands in ANWR and the Gulf of Mexico.

Five milllion barrels of oil and 5.5 million barrels of natural gas liquids equates to 10.5 million barrels of oil equivalents per day. The new OPEC is going to be the United States of America. 

http://www.best-electric-barbecue-grills.com

Guest


Guest

You forget that time after the oil spill in 2010 where it descreased significantly to the point where people in the oil industry were being laid off from work. My father in law was one of those. Fortunately he had enough connections to get with another company and work off the coast of Africa.

ZVUGKTUBM

ZVUGKTUBM

PACEDOG#1 wrote:You forget that time after the oil spill in 2010 where it descreased significantly to the point where people in the oil industry were being laid off from work. My father in law was one of those. Fortunately he had enough connections to get with another company and work off the coast of Africa.
There may have been a brief respite after the 2010 oil spill, but the haitus was short-lived. The shale revolution was still gearing up then. It's going gangbusters now. The Bakken shale is getting ready to cross 1 million BOE per day. The Eagleford is booming, not to mention other shale formations I have already mentioned on other threads. The Monterey shale in California will not be too far behind--another 15.4 billion barrels of recoverable oil. 

Now is a good time to be invested in oil. And if your family owns any mineral rights, well, "Cha-Ching!"

http://www.best-electric-barbecue-grills.com

Guest


Guest

ZVUGKTUBM wrote:http://www.pennenergy.com/articles/pennenergy/2013/08/fttn-daily-u-s-oil-production-to-reach-5-million-barrels-before-2020.html?cmpid=EnlDailyPetroAugust272013

"...oil production in the United States has increased by 1.5 million barrels per day since 2008, making the U.S. the country with the highest oil output growth in the world..."

"...With the expertise and technology available in the U.S., this growth is expected to continue. In fact, before 2020 North America’s daily oil production could reach 5 million barrels, while natural gas liquids could be as much as 5.5 million barrels of oil per day...."
 
Oil production has greatly increased since the COWH became president, a fact supported by the oil industry. This kind of refutes the wingnut notion that Obama is curtailing oil production by not allowing drilling on federal lands in ANWR and the Gulf of Mexico.

Five milllion barrels of oil and 5.5 million barrels of natural gas liquids equates to 10.5 million barrels of oil equivalents per day. The new OPEC is going to be the United States of America. 
Do you think it might be too good to be true? I wonder. this guy thinks it is. interesting read.

http://marketshadows.com/2013/08/06/shale-is-a-pipedream-sold-to-greater-fools/

Either way, I don't think you can give obama most of the credit for the shale oil boom. and even if you did, that is one sore spot for many lefties lol

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