Thanks Fracking: America May Soon Overtake Saudi Arabia To Be #1 In Global Oil Production

oilwell

Wow:

NEW YORK — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer.

Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.

The boom has surprised even the experts.

“Five years ago, if I or anyone had predicted today’s production growth, people would have thought we were crazy,” says Jim Burkhard, head of oil markets research at IHS CERA, an energy consulting firm.

Here’s a chart showing US domestic crude oil production since 1995, courtesy of Mark Perry:

But more startling than this revolution in oil production is the dramatic increase in natural gas production:

This is game-changing.

Honestly, I think politicians get a little dopey about energy independence. We are never going to get all of our energy from inside the United States, because in some markets and for some applications it’s just going to make more sense to get energy from outside the country. But to the extent that getting more energy from US producers as opposed to oil companies owned, in many cases, by not-so-nice nation states is a good move, Americans have to be happy about this development.

And it’s happening not because of government subsidies or government “investments.” It’s happening because fossil fuel works, and private sector innovations have made fossil fuels easier to access here in America.

It’s one of the great technological advancements of our time.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Robert Portly

    If we quit wasting so much energy we could put the icing on the cake. Per capita we use more energy than any other country in the world. We light up billboards and parking lots all night for no reason. Republicans are against sharing, and conserving. Republicans hate the idea of conserving energy with better cars, modern building, or just plain intelligent management. Somehow waste goes right along with greed in the two highest virtues of the right. Republicans always fight mass transit. Republicans always act like you can burn all the fossil fuels you want with no consequences. Remember these are the guys who say there is no global warming. It is always drill baby drill and never quit wasting. If Republicans would get on board with mass transit, high speed trains and efficient lighting the future would be brighter, but remember Republicans ride jets, drive big cars, and have many houses. Do they want to conserve? Not at all waste is their idea of fun. No matter what you want to save, be it trees, whales, fish, or just some green space, the Republicans say hell no, tear it up or burn it down, we need more money and more tax breaks for the rich.

    • mickey_moussaoui

      You are a nut job. I’m going to burn a tire in your honor. But first I will run over some geese with my 8mpg SUV right after I evict some poor people from one of my rental units. Then I’m going to go out for lunch and order the roast bald eagle at the country club where no minorities are allowed (except in the washroom). Then after lunch I think I’ll hire someone to cut down a few trees just so I can watch them fall. Hopefully those trees will be on the national register.

    • InTheKnow

      @5120316fd3453067796e4c3198a46b92:disqus

      Dumbass!

    • jl

      “Republicans are against sharing, conserving.” Mr. mental idiot, what do you think the word “conservative” means? Hmmm, maybe “to conserve”? And we do like to conserve our hard earned money before its given to welfare liberals. But thanks for the laugh and making our point.

    • robert108

      “We light up billboards and parking lots all night for no reason. Republicans are against sharing…”
      Which is it, liar? Can’t be both.
      The public wants individual transportation, and only accepts mass transit when liberal govt has taxed and regulated individual transportation out of existence.
      And yet, Democrat greed dogs keep funding their cronies in the mass transit/unionist sector with our confiscated earnings, and then whine that they aren’t receiving enough in taxes.

  • mikemc1970

    We could be totally energy independent if we exploited even more of our home grown energy resources. The moonbat envirosocialists don’t want US defunding the Islamic Jihadists in Saudi Arabia and the rest of the Islamic world. To them it’s social justice to finance those trying to kill US.

    • Robert Portly

      Why exploit anything but conservation. Let’s just quit wasting. Of course using resources and sharing leads to communism we all know that. Right Rob?

      • mikemc1970

        Yeah sure why not? We can start a whole government program so people can afford to fill their homes with $50 dollar light bulbs. And I’m sure that a Toyota Pious will have no problem whatsoever pulling my boat to the lake.

        P. S. I’m as much Rob as you are coherent.

        • Albert Dunderfinch

          Man if we don’t get your boat to the lake and Mitt’s car elevator working things could be bad for all of us. We always have to marvel at the sacrifices you right wing pigs are willing to make for the common good. Whoops I said common good, that is socialism, and we know what that is all about, sharing, the worst evil of all

          • mikemc1970

            No socialism is forced sharing and yes it is the worst kind of evil. The denigration of the individual in to a cog of the collective. The removal of liberty and choice and substituting tyranny and government mandate in its place. I also use my truck to haul dry wall and building supplies to Habitat For Humanity builds, which is voluntary sharing, in your mind the most evil thing of all because it takes away the state monopoly on charity.

          • Albert Dunderfinch

            When Bush gave the rich 700 billion and did not require them to pay for his wars was that voluntary or involuntary sharing? When I pay taxes that support the police and fire department is that evil or is it a good type of forced sharing? Very confusing.

          • mikemc1970

            When Bush allowed people to keep more of what they earned the GDP grew significantly and so did tax revenue. Too bad he couldn’t keep the spending down, but hey he had dead beats that couldn’t afford mortgages to fund and students getting degrees in underwater basket weaving to throw the money away on. When Romney will does the same and allows people to keep more of their own money, he’ll do the requisite cuts in spending to keep from making Bush’s mistake.

          • jl

            Bush didn’t “give” them anything, idiot. It was theirs to begin with. Typical libtard failure on basic economics.

          • InTheKnow

            @5e026bf3b24a9cf0e45002b96fec35b0:disqus

            Dumbass!

          • robert108

            President Bush gave nothing but a tax rate reduction for all Americans, so we could keep our own earnings, and not have them confiscated by the govt greed dogs.
            Those wars are for freedom, something all real Americans support.

          • mickey_moussaoui

            I’ve participated in six different habitat homes. But hey, I’m just an evil conservative

          • mikemc1970

            Private charity is the bane of big government. What volunteers do for free and return 90 cents on the dollar for, big government can hire bureaucrats and return 4 cents on the dollar for. Those bureaucrats in turn join unions, which kick some back to DemocRATS campaign funds.

            Mo votes
            Mo votes
            Mo votes

          • mickey_moussaoui

            I’ll share something with you. I have a size 11 boot that should fit up your ass sideways. Come and get it.

          • jl

            Sharing is good, professor Albert. But forced sharing, the kind libtards want, is evil.

          • robert108

            Voluntary sharing is what successful humans do. You really want forced redistribution, just like obama.

        • http://randysroundtable.blogspot.com/ Randy G

          Portly Joel won’t grasp that coherent part…

  • LastBestHope

    Domestic energy production is truly the key to our recovery. A rising tide of USA oil, natural gas and coal will lift all boats, large and small.

    Romney will pursue our energy independence. Obama won’t. This is a tough choice?

    • robert108

      “Drill, baby, drill.” – Sarah Palin, real American.

  • WOOF

    The Bush/Cheney/Neocon Iraq failure
    is what pushed up oil prices.
    High oil prices caused the investment
    into fracking and the rise in US production
    which has continued under Obama.

    Petro States are generally welfare states.
    Some have Kings, but if they don’t share the wealth
    those with titles are doomed.

    • robert108

      “The Bush/Cheney/Neocon Iraq failure
      is what pushed up oil prices.”
      Despite Democrat obstruction, Iraq was a success for President Bush, then obama gave it away to Iran. Oil prices went down after President Bush vacated the Carter drilling bans, then obama renewed them, and prices doubled.
      Democrat greed raised oil prices, which necessitated fracking, which shows the unintended consequences of govt obstruction in a free enterprise society. Despite efforts to destroy fracking through lying smear attacks, fracking has continued.
      “…those with titles are doomed.”
      Wannabe king obama is doomed.

      • WOOF

        You think with lies. Bush took oil from $30 in 2002 to $100/bbl in 2008. Failures no success at all.

        • robert108

          Actually, that was the Carter drilling ban doctrine, strengthened by the Dems in Congress and the EPA that increased the price. After President Bush eliminated the Democrat obstruction in August, 2008, the price dropped to $33/barrel.
          Nice deceptive cherry-pick out of context, your usual tactic.
          You lie with lies; I rely on historical truth.

          • WOOF

            And in this dimension

    • Todd

      “The Bush/Cheney/Neocon Iraq failure is what pushed up oil prices”

      And yet, when Bush left office gas was $1.80 a gallon. Using your logic, obama’s failures have doubled gas prices..

      • WOOF

        Bush left a worldwide economic meltdown. Gas is cheap when no ones buying…….. $4.40 a gallon,July 2008.

        • robert108

          Then, President Bush revoked the Carter drilling bans, and the price dropped to $33/barrel. Supply and demand. Elementary econ.

  • Mark

    Drill baby drill
    I thought they said if we drill it would take 10 to 15 year for crude to hit the market
    Looks like it takes less than 5 months
    Yahoo
    Drill and hope the soundWakes America up

    • robert108

      Wrong and wrong. It takes 3 to 5 years for oil from a new well to hit the market, so all the recent increase is from President Bush, so obama is lying when he takes credit for it.
      However, lifting the obama drilling bans would put new oil on the market within months from reactivated wells. Furthermore, the market for oil, being a FUTURES market, responds quickly to changes in American domestic drilling policy, as evidenced by the response to President Bush striking down the Democrat drilling bans in August, 2008, which reduced oil from $147/barrel to $33/barrel in December, 2008.

      • WOOF

        The spot market is the cash market, Robot. Your Marxist training should have made that clear.

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