OnearmSword
New member
Will America become Energy Independent before it goes bankrupt? The race is on folks.
http://www.uncommonwisdomdaily.com/is-america-on-the-road-to-energy-independence-15541
Last week in Uncommon Wisdom Daily, I told you about two potential “game changers” in oil — the rising global supply, and soaring North American production.
Today, I want to dig a little deeper and take a closer look at how America’s domestic oil supply has huge implications for our economic future … so huge, in fact, that most people can scarcely imagine
Here’s the scoop:
America’s domestic oil production jumped 14% in 2012 from 2011. That’s the largest rise in annual U.S. production since the middle of the 19th century!
Combined with more fuel efficiency, this has caused U.S. crude oil imports to tumble 9.2% year-over-year — to the lowest amounts seen since January 2000.
The United States is now adding more oil and gas production than any other country in the world. During the past five years, it has raised total supply by 2.59 million barrels per day.
Put another way: Our increase is more than Germany’s total crude oil consumption.
The Department of Energy reported that the U.S. produced 6.4 million bpd of crude oil in 2012 … a number not seen since the week before Christmas in 1994 — almost 18 years ago!
Will the U.S. Become the Largest Oil Producer?
The International Energy Agency (IEA) recently rolled out a forecast saying that, through a combination of rising oil-and-gas production and efficiency savings, the U.S. could become energy-independent by 2035.
That means we would be producing more oil than Saudi Arabia, which has been pumping just under 10 million bpd in recent months.
In its yearly world energy outlook, the IEA said that by 2030:
“The U.S., which currently imports around 20% of its total energy needs, becomes all but self-sufficient in net terms — a dramatic reversal of the trend seen in most other energy-importing countries.”
Adding in unconventional oil and gas, the total energy output of the U.S. could be eye-popping.
http://www.uncommonwisdomdaily.com/is-america-on-the-road-to-energy-independence-15541
Last week in Uncommon Wisdom Daily, I told you about two potential “game changers” in oil — the rising global supply, and soaring North American production.
Today, I want to dig a little deeper and take a closer look at how America’s domestic oil supply has huge implications for our economic future … so huge, in fact, that most people can scarcely imagine
Here’s the scoop:
America’s domestic oil production jumped 14% in 2012 from 2011. That’s the largest rise in annual U.S. production since the middle of the 19th century!
Combined with more fuel efficiency, this has caused U.S. crude oil imports to tumble 9.2% year-over-year — to the lowest amounts seen since January 2000.
The United States is now adding more oil and gas production than any other country in the world. During the past five years, it has raised total supply by 2.59 million barrels per day.
Put another way: Our increase is more than Germany’s total crude oil consumption.
The Department of Energy reported that the U.S. produced 6.4 million bpd of crude oil in 2012 … a number not seen since the week before Christmas in 1994 — almost 18 years ago!
Will the U.S. Become the Largest Oil Producer?
The International Energy Agency (IEA) recently rolled out a forecast saying that, through a combination of rising oil-and-gas production and efficiency savings, the U.S. could become energy-independent by 2035.
That means we would be producing more oil than Saudi Arabia, which has been pumping just under 10 million bpd in recent months.
In its yearly world energy outlook, the IEA said that by 2030:
“The U.S., which currently imports around 20% of its total energy needs, becomes all but self-sufficient in net terms — a dramatic reversal of the trend seen in most other energy-importing countries.”
Adding in unconventional oil and gas, the total energy output of the U.S. could be eye-popping.
