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USA To Be Top Oil Producer

Started by Rod Kaufman, 10/24/2012 03:36AM
Posted 10/24/2012 03:36AM Opening Post
http://www.sltrib.com/sltrib/money/55136481-79/oil-production-million-barrels.html.csp
Must be all those leases and refineries we shut down...
Posted 10/24/2012 04:19PM #1
Rod Kaufman said:

http://www.sltrib.com/sltrib/money/55136481-79/oil-production-million-barrels.html.csp
Must be all those leases and refineries we shut down...

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

I think your subject is not quite true. The quote from the article includes more than crude oil - other liquid hydrocarbons and biofuel. We are increasing our crude production due to the Bakken oil deposits. There seems to be large deposits of shale oil in the West but much of those lands are federal holdings and Obama has stymied production on federal lands and offshore. About 70% of crude oil is used to produce transportation fuels - gasoline, diesel and jet fuel. If we can increase use of biofuels and LNG (which we are awash in), we can reduce our imports of crude.

Jim J

"Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good." - Thomas Sowell