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Economy
U.S. Is Set to Become World's Top Oil Producer, Government Says
2018-07-11
[Bloomberg] The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play.

The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook.

"In 2019, EIA forecasts that the United States will average nearly 12 million barrels of crude oil production per day," said Linda Capuano, Administrator of the EIA. "If the forecast holds, that would make the U.S. the world’s leading producer of crude."
Posted by:Besoeker

#11  Oh, there's still a large cohort in Washington (and some retirees, cough, cough) who have a big vested interest in large transfers of western dollars to the oil ticks. For "stability" ya know...
Posted by: M. Murcek   2018-07-11 13:01  

#10  Hurdles to mining helium on the moon.

Posted by: Skidmark   2018-07-11 10:14  

#9  Ref #8: All of which means more jobs for people in the oil patch, more taxes in local, state, and federal coffers. Less dependence on foreign energy.
Posted by: Besoeker   2018-07-11 10:03  

#8  The wife and I drove through southeast New Mexico and west Texas a week ago on the way back to Houston from Santa Fe. The drilling rigs were too numerous to count, with flare-offs on site. New service equipment in huge impromptu lots, tanker trucks and temporary housing areas everywhere--and that's what could be seen without leaving the highway. Frankly, there were so many work trucks everywhere in the middle of nowhere that it was dangerous. Must be why there were DPS vehicles everywhere as well. In all my long life in Texas, and I grew up in the oil patch, never seen anything like this.
Posted by: brujotejano   2018-07-11 09:53  

#7  #6 Qatar natural gas production leveled off and started downhill last year. The pace should increase over the next decade while US production should increase substantially as it captures European markets.
Posted by:    2018-07-11 08:22  

#6  US is already the leading producer of natural gas and has been for almost a decade

and the production has been increasing by 10% per year
Posted by: lord garth   2018-07-11 06:32  

#5  The situation is well covered in this fine video:
Posted by: 3dc   2018-07-11 05:54  

#4  Permian Basin pipeline companies are building three new pipelines, since they are currently maxed out, to enable another 2 million bbl/day to be shipped to the Texas refineries. Fracking has massively increased the Permian tappable reserves.
Posted by: 3dc   2018-07-11 05:51  

#3  Nice but no long range thinking. Helium 3 on the moon could be the next Saudi oil field. It's potential future nuclear fusion power plant energy yield has already started a moon exploration race.

The major problem now is on site processing.
Posted by: Woodrow   2018-07-11 05:46  

#2  The US consumes 19.69 million barrels per day.
Posted by: Shinemble Greans4690   2018-07-11 04:51  

#1  Oil ticks beware!
Posted by: g(r)omgoru   2018-07-11 03:57  

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