Posted December 16, 2013
The U.S. Energy Information Administration (EIA) offered a preview of its 2014 Annual Energy Outlook that will come out next spring, and the second slide in Administrator Adam Sieminski’s presentation is an attention grabber, charting how expanding domestic oil production will reach historic levels in 2016 – 9.6 million barrels per day, a mark set in 1970.
Posted December 3, 2013
International Energy Agency (IEA) Chief Economist Fatih Birol was at CSIS this week, highlighting the organization’s findings in its 2013 World Energy Outlook. The report focuses on global energy demand growth, the future energy mix and the sources of energy. Key takeaways from Birol’s presentation:
- The United States could become the world’s leading oil producer as early as 2015, two years earlier than IEA projected a year ago, Birol said.
- About two-thirds of the growth in global energy demand between now and 2035 will come from Asia.
- U.S. energy production, especially surging natural gas output from shale via hydraulic fracturing, is creating energy cost differentials that make American products more competitive in the global market.
Posted July 16, 2013
Carpe Diem – North Dakota Sets Another Oil Production Record
Blogger Mark Perry comments on the latest oil production figures from North Dakota: 810,314 barrels per day in May – the 10th month in a row the state as pumped more than 700,000 bpd. Production increased almost 26 percent over May 2012, thanks to booming production from the Bakken shale.
Posted June 17, 2013
Washington Post – Why We Should Speed U.S. Gas Exports
In an op-ed for the Post, U.S. Sen. John Barrasso of Wyoming writes that the United States has a rare opportunity through natural gas exports to simultaneously create jobs, strengthen our foreign policy hand and help allies abroad. “Make no mistake: Our allies need energy to grow,” he writes. “If the United States does not supply that energy, someone else will.”
The Telegraph – U.S. Having Real Energy Revolution with Oil Surge
“Despite disruptions to oil supply in Africa and parts of the Middle East, rising US output ensured that global oil production continued to grow,” writes Garry White.
Posted December 26, 2012
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Posted January 24, 2012
One of the most important things to know about producing oil on federal lands is that it takes time. Lots of it. As this chart developed by API illustrates, it’s up to a decade from the time a lease is won at auction to the first actual production of oil. If you include pre-lease sale studies and evaluation, which have to be done before companies bid on federal leases, that’s a couple more years.
canadian-oil-sands domestic-energy economic-growth fracking hydrofracking natural-gas-benefits oil-access oil-production oil-refining water-quality economic-revenue energy-supply-and-demand oil-innovation oil-technology shale-benefits
Posted June 29, 2011