US to become world's largest oil producer [Archive] - Glock Talk

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airmotive
11-12-2012, 07:31
According to IEA, by 2017, the United States' oil production is projected to surpass all other oil producers. The US will also turn the corner on oil imports by 2030...going from the world's largest importer of oil, to an EXPORTER of oil. I know it's fun to bash Obama on energy, but the results are what matters.

http://www.reuters.com/article/2012/11/12/us-iea-oil-report-idUSBRE8AB0IQ20121112

Fear Night
11-12-2012, 07:34
Until they discover an endangered insect (http://www.redorbit.com/news/science/1112690685/blind-spider-texas-091012/) at the spot we want to drill. Then it will all be called off.

.264 magnum
11-12-2012, 07:35
According to IEA, by 2017, the United States' oil production is projected to surpass all other oil producers. The US will also turn the corner on oil imports by 2030...going from the world's largest importer of oil, to an EXPORTER of oil. I know it's fun to bash Obama on energy, but the results are what matters.

http://www.reuters.com/article/2012/11/12/us-iea-oil-report-idUSBRE8AB0IQ20121112

Obama has done nearly everything in his power to slow our progress on oil/gas development.

Keystone Pipeline anyone? More or less killing on-shore development on Federal Lands.

I'm all for giving him credit when deserved. But he deserves none vis a vis this topic.

Atlas
11-12-2012, 07:39
5-Liter V8 sports car anyone?

http://1.bp.blogspot.com/_suBc_jZ8nFM/S3upsBero8I/AAAAAAAAAGs/5kXXgeAfCBc/s640/No+Prius.jpg

Sharkey
11-12-2012, 07:58
5-Liter V8 sports car anyone?

http://1.bp.blogspot.com/_suBc_jZ8nFM/S3upsBero8I/AAAAAAAAAGs/5kXXgeAfCBc/s640/No+Prius.jpg

Nope. You sir might go on the Eco terror watch list. We all know that won't meet cafe standards of the dictator in chief.

Dennis in MA
11-12-2012, 08:03
Obama has done nearly everything in his power to slow our progress on oil/gas development.

Keystone Pipeline anyone? More or less killing on-shore development on Federal Lands.

I'm all for giving him credit when deserved. But he deserves none vis a vis this topic.

Shhhh. You're ruining pretend-land.

certifiedfunds
11-12-2012, 08:07
Obama has done nearly everything in his power to slow our progress on oil/gas development.

Keystone Pipeline anyone? More or less killing on-shore development on Federal Lands.

I'm all for giving him credit when deserved. But he deserves none vis a vis this topic.

Don't forget what has happened in the GOM post Macondo

Drjones
11-12-2012, 08:21
Obama has done nearly everything in his power to slow our progress on oil/gas development.

Keystone Pipeline anyone? More or less killing on-shore development on Federal Lands.

I'm all for giving him credit when deserved. But he deserves none vis a vis this topic.


Agreed. There is simply no way this is true, and shame on the OP for biting on a story from Reuters of all sources.

Every single article I've ever read about hussein - from any source - talks about the feds ENDING production; i.e.; offshore in the wake of the gulf coast disaster, etc.

Additionally, this administration relentlessly pushes "green" crap energy.

There's just no way this article you found is true or accurate.

G36's Rule
11-12-2012, 08:26
According to IEA, by 2017, the United States' oil production is projected to surpass all other oil producers. The US will also turn the corner on oil imports by 2030...going from the world's largest importer of oil, to an EXPORTER of oil. I know it's fun to bash Obama on energy, but the results are what matters.

http://www.reuters.com/article/2012/11/12/us-iea-oil-report-idUSBRE8AB0IQ20121112

Please enlighten us of little knowledge, what precisely has Obama done to make all this happen?

ldn0125
11-12-2012, 08:29
And I guess we become the largest producer with oil companies laying off GOM employees at this very moment?

I sure hope we do become the largest producer -- my husband is a deepwater directional driller. I'm not sure we'll be any better off in 4 years than we are now. I'm rather afraid with only 6 years left before retirement that we'll have any of our investments and savings available to us by that time.

engineer151515
11-12-2012, 08:37
from the article: "over $215 per barrel by 2035 in nominal terms, or $125 in 2011 terms."

More good news hidden in there.

US dollar looses 72% of its purchasing power in the next 24 years.

Just great. Maybe gold prices will be up to counter this loss.

BTW - the coal industry will be bankrupt.

Rooster Rugburn
11-12-2012, 08:41
According to IEA, by 2017, the United States' oil production is projected to surpass all other oil producers. The US will also turn the corner on oil imports by 2030...going from the world's largest importer of oil, to an EXPORTER of oil. I know it's fun to bash Obama on energy, but the results are what matters.

That's not going to happen. This study is based on fracking. When they say "oil shale", that means fracking. There are many people think the EPA will be attacking fracking now that Obama has won a second term.

Obama already put a lot of federal land off limits to oil drilling\fracking.

Folks need to understand that with Obama and the greenies, it's not about supply. It's about the environment. Fossil fuels, regardless of their countries of origin, cause pollutants, and that is why Obama envisions $8 a gallon gas, to encourage conservation.

The answer is converting fleets to natural gas.

airmotive
11-12-2012, 08:48
Agreed. There is simply no way this is true, and shame on the OP for biting on a story from Reuters of all sources.

Every single article I've ever read about hussein - from any source - talks about the feds ENDING production; i.e.; offshore in the wake of the gulf coast disaster, etc.

Additionally, this administration relentlessly pushes "green" crap energy.

There's just no way this article you found is true or accurate.
Ooooo. Shame on me.
Do your own damn homework then. It's even on Fox news....or is that too centrist for you to consider to be a legitimate news source? I'm sure Breitbart will eventually pick up on this story, THEN will it exist?

Vic Hays
11-12-2012, 09:02
That's not going to happen. This study is based on fracking. When they say "oil shale", that means fracking. There are many people think the EPA will be attacking fracking now that Obama has won a second term.

Obama already put a lot of federal land off limits to oil drilling\fracking.

Folks need to understand that with Obama and the greenies, it's not about supply. It's about the environment. Fossil fuels, regardless of their countries of origin, cause pollutants, and that is why Obama envisions $8 a gallon gas, to encourage conservation.

The answer is converting fleets to natural gas.

I run natural gas. It runs cleaner than gasoline and this summer they had such a glut they ran out of room to store it. It costs less than half the price of gasoline. There is only one place in a radius of 200 miles that I can fill up. It is about 35 miles away. There are no new stations being built that I know of.

This says to me that the agenda is no mercy on the average person who has to put a major portion of his income into his gas tank just for basic transportation. Rickshas and bicycles are what the environmentalists are trying to bring us to. This from a guy that flys all over the place with his personal 747.

Geko45
11-12-2012, 09:04
The scenario described in the article is a pipe dream and not because of Obama and/or environmental causes. The Energy Information Administration (an office of the U.S. Dept of Energy) puts current domestic production at 6.15mbpd (million barrels per day). To go from that to over 10 mbpd in just two years is totally absurd (2012 is all but done). It's never gonna happen. For comparison sake, we spent the last two years going from a little over 5mbpd to a little over 6mbpd.

.264 magnum
11-12-2012, 09:09
Don't forget what has happened in the GOM post Macondo

Roger that.

.264 magnum
11-12-2012, 09:18
The other never talked about item is methane hydrate - basically MH is natural gas sequestered in ice. Our oceans hold lots of methane hydrate along cold water seabeds. And MH is prevalent under ice sheets.

It's basic stuff, although difficult at scale, to harvest the ice, melt it and capture the methane - not very efficient.

What looks promising is pumping CO2 into MH beds below ice sheets. The CO2 displaces the methane allowing methane harvest. Better yet the CO2 replacing the methane maintains the ice lattices in place sequestering the CO2 apparently forever more or less.

The EPA is sure to ban all research in this direction ASAP.


ETA - the world holds enough MH to power mankind for centuries and methane is axiomatically the most green way we can actually provide enough power, so it's a big deal. The question is how much of it can we get too and how?

.264 magnum
11-12-2012, 09:20
Ooooo. Shame on me.
Do your own damn homework then. It's even on Fox news....or is that too centrist for you to consider to be a legitimate news source? I'm sure Breitbart will eventually pick up on this story, THEN will it exist?

Hey AM, speaking for myself, I wasn't busting on you. The broad story is that BTU value yield in The US is up. Fox is carrying the story as they should. It's a long way from there to congratulating Obama.

.264 magnum
11-12-2012, 09:36
The scenario described in the article is a pipe dream and not because of Obama and/or environmental causes. The Energy Information Administration (an office of the U.S. Dept of Energy) puts current domestic production at 6.15mbpd (million barrels per day). To go from that to over 10 mbpd in just two years is totally absurd (2012 is all but done). Never gonna happen. For comparison sake, we spent the last two years going from a little over 5mbpd to a little over 6mbpd.

I can't re-open the link. But I think the two year window was claimed for us to overtake Russia for #1 in natural gas production. That seems very likely to happen. Over taking Saudi for #1 in oil was predicted for 2017 IIRC IIRC. The problem with that is, according to some always right sources I know, Saudi has massive reserves in fields that are basically untouched save testing.

Texas has 200,000,000,000+ barrels of estimated oil in ground. A whole bunch of that is likely to never be recoverable save for R&D. The question is how much of it is recoverable at $100 +- 50 in today's dollars?

Geko45
11-12-2012, 09:43
I can't re-open the link. But I think the two year window was claimed for us to overtake Russia for #1 in natural gas production. That seems very likely to happen. Over taking Saudi for #1 in oil was predicted for 2017 IIRC IIRC. The problem with that is, according to some always right sources I know, Saudi has massive reserves in fields that are basically untouched save testing.

It was further down in the article. The US overtaking Russia in gas production by 2015 is more realistic, but further down it claimed oil production at 10mbpd by 2015 and then surpassing Saudi Arabia with 11+mbpd by 2017. That's the part that is a pipe dream.

.264 magnum
11-12-2012, 09:59
It was further down in the article. The US overtaking Russia in gas production by 2015 is more realistic, but further down it claimed oil production at 10mbpd by 2015 and then surpassing Saudi Arabia with 11+mbpd by 2017. That's the part that is a pipe dream.

OK thanks.

I agree Bakken, Eagle Ford and some others are rocking but they aren't rocking a net new 4.5/5mbpd in two years.

Geko45
11-12-2012, 10:05
OK thanks.

I agree Bakken, Eagle Ford and some others are rocking but they aren't rocking a net new 4.5/5mbpd in two years.

Unless perhaps they were playing fast and loose with a "barrel of oil equivalence" definition...

Kozel
11-12-2012, 10:17
Seems like everybody is insanely obsessed with linear projections, which NEVER work!

Some fool somewhere picks a bump in the chart and draws straight line from it straight into “da future”.

Something increased by 1% in one year then it will increase 100% in 100 years! Idiots drawing linear projections make great headlines for more idiots.

janice6
11-12-2012, 10:23
The government goal doesn't impact the availability. The goal is to make it expensive.

Clutch Cargo
11-12-2012, 10:24
5-Liter V8 sports car anyone?

How many cubic inches that? Liters are for measuring soda.

Atlas
11-12-2012, 10:29
How many cubic inches that? Liters are for measuring soda.

http://www.metric-conversions.org/volume/liters-to-cubic-inches.htm

http://www.coolgizmotoys.com/images/old/6a00e550df20b188340133f2a6ddea970b-pi.jpg

VA27
11-12-2012, 10:40
...The US will also turn the corner on oil imports by 2030...going from the world's largest importer of oil, to an EXPORTER of oil...

I get it! It's a story from the FUTURE! What it leaves out is the part about it's the CHINESE doing the drilling and exporting it back to China.:whistling:

Atlas
11-12-2012, 10:47
I get it! It's a story from the FUTURE! What it leaves out is the part about it's the CHINESE doing the drilling and exporting it back to China.:whistling:

With a pipeline running out to a offshore loading terminal outside our territorial limit, just for convenience.

airmotive
11-12-2012, 12:02
I get it! It's a story from the FUTURE! What it leaves out is the part about it's the CHINESE doing the drilling and exporting it back to China.:whistling:

Actually, the report states that in 20 years the majority of middle eastern oil will be going to China, instead of the US.

mike from st pe
11-12-2012, 19:31
We are number ONE, again!!!
That is why the Japanese attacked Pearl. FDR stopped selling them OIL!!!
:faint: