There Will Be Oil: On the State of U.S. Oil Production

“Fracking Moves U.S. Crude Output to Highest Level Since 1989” – Bloomberg

“The state of Texas is now producing more oil than the country of Iran.” (Sept. 11, 2013)

We’re #3. (But not for long.)

List of countries by oil production – Wikipedia

“In 2012 November the IEA stated that the United States would surpass Russia and Saudi Arabia and become the world’s largest oil producer sometime between 2017 and 2020.”

“Gulf of Mexico in a drilling ‘renaissance'” – Christian Science Monitor

“…a Gulf region thought to be largely tapped out, it turns out, hadn’t even begun to give up its real spoils, leading to an oil boom that has turned the United States from a net gasoline importer to a net exporter for the first time in 50 years.” (Sept. 14, 2013)

oil slick, oil well, oil rig, derrick, nodding pump, pumpjack, nodding donkey, oiler, gusher, dinosaur, wildcat, thirsty bird…

There-will-be-blood-poster

How much oil does the United States consume per year?

6.87 billion barrels a year (or 18.83 million barrels per day) in 2011. About 22% of total world consumption. -source: U.S. Energy Information Administration

26.5 billion barrels

= U.S. oil reserves as of 2011

there-will-be-blood

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