Report: US May Soon Become World’s Top Oil Producer


oil-productionU.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.

The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year. That would be a record for the U.S. and just below Saudi Arabia’s output of 11.6 million barrels. Citibank forecasts U.S. production could reach 13 million to 15 million barrels per day by 2020, helping to make North America “the new Middle East.”

Read more at ABC NEWS

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  1. So why are prices still so high??? The oil industry is who should be bailing everyone out and made to pay for everyone else still in the recession.

  2. Private corporations are doing this development on private land, mostly out of range of Obama’s interference. However, Obama’s environmental regulators continue to look for a way to bring this progress to a standstill. Their objective is to have no practical, domestic energy source for the US, and really no US.


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