EIA: US net imports of petroleum liquid fuels could end by 2035

http://www.pennenergy.com/articles/pennenergy/2013/04/us-net-imports-of-petroleum-liquid-fuels-could-end-by-2035.html

“Domestic crude oil production approaches 10 million barrels per day by 2020 and is sustained near or above that level through 2040.”

“Projected liquid fuels demand is assumed to be lowered by technological, economic, and behavioral factors including:
-Light-duty vehicle technology is improved
-Vehicle fuel efficiency standards are tightened beyond the 2025 model year
-Electric vehicle batteries are improved
-Natural gas market penetration into the freight transport industries is expanded
-Growth in vehicle miles traveled is significantly reduced relative to the Reference case”


This is great news! It is going to take the edge off the U.S. economic maelstrom for a while. Thank technology, and our ability to unlock hydrocarbons in unconventional shale formations. I think later in this century, the declines caused by Peak Oil will return, but this gives us time.

In any case, by 2030, Saudi Arabia becomes a net oil importer, and the U.S. will be producing 12 million barrels per day then.

Divine intervention? Who would have predicted the production numbers coming out of our Domestic production........it is insane. Who would have thought the electric and hybrid would take off like it is now. Who would have thought our country side would be dotted with wind production. We have a very good economic future and we are going to see a mini boom over the next 30 years. From the ashes of this 6 year downturn and stagnation will sprout long term real economic growth based on comparative energy advantages.

I've said too that if there's one thing we are able to do politically... It is to leave something of value to the future.

The question is whether we can spend it before they're entitled to it.

I've said too that if there's one thing we are able to do politically... It is to leave something of value to the future

I was a geology minor and in 1973 in the first oil crisis, Professors were giving very detailed thesis examination of the policy to deplete cheap foreign oil before we could utilize our expensive and at that time impossible extraction economically of some of our resources. In Foreign Relations it was overt policy to access cheap overseas oil and import the same. Bin Ladin was very specific with his anger with the Saudi family as being a tool of the west depleting Arab resources........It was a concrete policy which is going to pay dividends for America over the next fifty years. Nobody could have predicted the productivity in old fields using amazing fracking technologies......this simple multiple rubber stoppers have transformed America......If we can stay the course on energy conservation, our children and grand children have a wonderful future. As the population bubble of babyboomers retires, the jobs are actually going to see significant improvement as that bubble disappears and those jobs become available.......I just wish I could have seen this coming 7 years ago.........but I never saw the housing bubble/babyboom bubble....it was obvious even then.....but nothing prepared me for this energy boom.....My geology professors would say what is happening now was impossible in 1972.

I think that I've told you before that my minor was geology as well... wake me up when your words reach fruition.

It's still no excuse for your lack of self administration.

Then there is Gull Island......Well, maybe.....

http://rense.com/general82/gull.htm

Gull Island sits at the northern edge of the 10-square mile area ARCO was allowed to develop in Alaska's Prudhoe Bay. In 1973, a new oil well was spud-in on this little island. ARCO executives on-site were giddy with excitement over how they had just found the next Saudi Arabia--the oil came from a different pool-and was chemically different from the oil associated with other parts of Prudhoe Bay. Then, the federal government made them shut the well in and sequester all records about the find.

Meanwhile, production in the rest of Prudhoe Bay/Alaska continues to decline.

Then, the federal government made them shut the well in and sequester all records about the find.

This was not by accident. The environmental movement is legitimate, but there are strong forces within the Pentagon which have always argued autonomy from long supply lines overseas. Those reserves are massive, and they simply do not want us tapping the same........if we really needed them.....does anybody really think environmental priorities would stop the drilling........of course the drill baby drill crowd.....who I mostly agree.....never understood this strategic delay.