Depite Obama’s Best Efforts – Shale Boom Projected to Turn US into Largest Oil Producer

By 2020, the US is projected to become the world’s largest global oil producer.

(Energy and Capital)

Despite Barack Obama’s best efforts, the current shale boom is projected to turn the US into the world’s largest oil producer.
Rigzone reported:

A shale oil boom means the U.S. will overtake Saudi Arabia as the world’s largest oil producer by 2020, a radical shift that could profoundly transform not just the world’s energy supplies, but also its geopolitics, the International Energy Agency said Monday.

In its closely watched annual World Energy Outlook, the IEA, which advises industrialized nations on their energy policies, said the global energy map “is being redrawn by the resurgence in oil and gas production in the United States.”

The assessment is in stark contrast with last year, when it envisioned Russia and Saudi Arabia vying for the top position.

“By around 2020, the United States is projected to become the largest global oil producer” and to overtake Saudi Arabia for a time, the agency said. “The result is a continued fall in U.S. oil imports [currently at 20% of its needs] to the extent that North America becomes a net oil exporter around 2030.”

This major shift will be driven primarily by the faster-than-expected development of hydrocarbon resources locked in shale and other tight rock formations that have just started to be unlocked by a new combination of two technologies: hydraulic fracturing and horizontal drilling.

Within a decade, the IEA forecasts U.S. oil imports will fall by more than half, to just 4 million barrels a day from 10 million barrels a day currently. Much of this decline will be due to higher domestic production, but efforts to improve energy efficiency in the transport sector will also prove significant, the IEA said.

Of course, these gains in oil production occurred in spite of Obama’s anti-energy policies.
The Institute for Energy Research reported:

The Energy Information Administration (EIA) is projecting that U.S. domestic crude oil production will increase to 6.8 million barrels per day in 2013, which is the highest level of production since 1993.[i] This is good news for Americans, and, of course, President Obama will try to take credit for it. But little of this increased oil production is in offshore waters of the Gulf of Mexico where most federal oil production occurs. In fact, federal Gulf of Mexico oil production decreased in fiscal year 2011 and then again in fiscal year 2012 due to the Obama Administration’s policies, particularly the moratorium on drilling and permitting that occurred after the Macondo accident and other policies…

…The trend during the Obama Administration has been toward fewer leases and permits for oil and gas drilling and a longer processing time before approval is attained in sharp contrast to state programs where permits are obtained in less than a month. Further, these Obama Administration policies along with its moratorium on drilling after the Macondo accident have reduced the amount of oil produced on federal lands that we Americans own. Gulf of Mexico oil production is not even expected to regain the peak it reached in 2010 by 2013, according to the EIA. If states can take less than a month to approve drilling permits on their lands, why does it take the federal government 307 days to reach approval? The record is becoming clear that the federal government is a poor steward of our national energy supplies and security.

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  • dw dude

    all hail to the states! nobama!

  • Basil Duke

    This news has got to be extremely frustrating for King Barack. Let me be clear/make no mistake: much work remains to be accomplished through the EPA’s regulatory apparatus! It is, after all, for the children, the environment, fairness, etc and et al.

  • BurmaShave

    I would say: Depite Obama’s Worst Efforts

  • Sasja

    OT

    Sometimes people can surprise you. Take the occupy wallstreet crowd. Who’d a thunk it.

    http://www.huffingtonpost.com/daniel-marans/occupy-sandy-volunteers_b_2101396.html

  • Jim

    Obama is a socialist and, as part of his twisted psyche, will take credit for the increase.

  • American Woman

    I’m sure Obama is trying to figure a way to give Saudi Arabia the profits. Hillary Clinton & Susan Rice are probably at the UN working out the details.

  • Dr Van Nostrand

    Obama is a socialist and, as part of his twisted psyche, will take credit for the increase.”

    Im afraid #5 Jim is right.Obama is completely shameless. He has already taken credit for increased production due to Bushs policy that may have tilted the election in his favor in shale country!
    Ive had enough ,let the impeachment proceedings begin!

  • bigkahuna

    As Obama closes down about 1.5 million acres out west. I mean what the hell would the Govt do with all the extra revenues generated from oil /gas ??? Not like we have 47% of the country on welfare of some sort and a $1.2 trillion deficit or $16 trillion debt.

    I hope we can impeach this traitor

  • Hippies Still Smell

    Occupy ChimpyMcHalliburton!

    /channeling Soros

  • The EPA

    Don’t worry, we’re on it. Injecting the waste water deep underground has got to be harmful somewhere.

  • dwd

    In other words: imagine where we’d be WITHOUT Obama’s interference and roadblocks!

  • Don’t worry, Obama will take credit for all of this just like he does all the time with increased oil production on private lands…

    http://www.krmg.com/news/news/local/fact-check-oil-production-under-obama-only-private/nLZmf/

    Cheers!

  • valerie

    #5 November 13, 2012 at 9:58 am
    Jim commented:

    He did just that during the Presidential debates. He took credit for the increase in oil production that had already occurred on private property.

  • Bill

    All of this depends on fracking. Do you think Obama’s EPA won’t make fracking de facto illegal. Think again.

  • Basil Duke

    #14: He absolutely will do exactly that – using the EPA as his club (and also threatening to withhold federal funds to the individual states who resist). And nothing will be done about it. He IS King Barack, after all, and can do as he pleases. The media will give him cover, the senate will assist him and the U.S. House will hold a couple of hearings and threaten some EPA flunky eight rungs down the ladder with a public scolding. Gas prices will continue to climb, along with the cost of food, while the urban tapeworms, wobblies and faculty lounge fuhrers of Obama’s base burrow ever deeper into the public teat.

  • Pingback: Will Obama Let Washington and Colorado Keep Their Legal Pot? | IowaDawg Speaks to Everyone()

  • democraps suck

    Until heir obummer stops that as well…he can’t have any american succeed because that means he fails in his destruction of america

  • Bill

    Basil Duke – And the anti-fracking movie “Promised Land” (the equivalent to “The China Syndrome”) is about to be released. Then the public outcry will really begin and you can kiss fracking and all this anticipated oil production goodby.

  • Basil Duke

    Bill, it’ll be another “Silent Spring”-type hit job. Faked science, slathered in alarums about a hideous threat to the children, and – presto! – domestic oil production is severely limited. And the very same leftwing scumbags who’ve bleated for a generation about “No More Blood For Oil!” will lead this particular charge.

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  • Bill

    Exactly. And this about an oil field technology that has been around for 60 years and has excecuted 1 1/4 million frack jobs. Environmental damage? Nada, zero, zippo, ziltch. Won’t matter though. The big media propoganda machine will take care of the “facts”.

  • bg
  • obama won’t let this happen. dependence on muslim oil is what created the current muslim ascendency. oil money finances their terrorism and their spread of sharia.

  • Lorenzo

    Nice! Let’s even pump more carbon dioxide into the the atmosphere! We need a massive population die off fast. This is the way to go! 2 Celsius increase in world temperature here we come!

  • America becoming the worlds largest oil producer is a bit premature don’t you think?

    America becoming the worlds largest oil producer will become a thing of the past as soon as Obama signs the U.N.’s Agenda 21. This treaty is nothing more than the most massive redistribution of wealth that mankind has ever seen. And what it will do is take from us the control over our own natural resources. Agenda 21 says that for the sake of underproducing nations to have a “fair share” of the natural resources that these environmentalist nut jobs believe don’t and shouldn’t “belong” to any nation, allows the U.N. to take those resources over to be redistributed equally to the countries who aren’t able to have resources like we enjoy. Our oil and gas will be confiscated as soon as it comes out of the ground. So what do you think the oil and gas businesses will do? They will cap these wells and not remove the stuff out of the ground as long as Obama is in office or anyone else who is on the globalist train to hell!

    Obama wants to see $8.00 a gallon gasoline in America so that we can “empathize” with those poorer countries in the world who don’t have nice soft lives like we have enjoyed “for far to long” in our country. He wants to make come true the “Dreams of (his) Father” that is a nightmare for us. His father blamed America for all of Africa’s problems and suffering. His father wanted to see a time come when America was destitute and broken like America has done to Africa. And that time has come, thanks to everyone who voted Obama to a second and final solution term.

    See, if you liberals think that America’s better days are ahead of us and that they will be the one’s who will usher in that new age are in for a rude awakening. What the Communists have planned for our nation is not to tear down our old way of life and replace it with the one that they believe we should have. What they have needed for a long time is for America to either join them, which has already been proven will not ever happen, is for America to be destroyed so that there will not be any more opposition to their ideology ever again. They want us out of the way so that their plan for world domination will not be kept from it’s final end and that is Communism controling the world. America has been a problem for decades and now they are in a position to finally put a stop to it. And they are. This elimination of America will enable them to back their Arab friends and attack Israel and get them out of the way to, not only for the benefit of Islam but so that no one will oppose them as they take over Europe to.

    Marx is jumping up and down in his grave that HIS day has finally come.

  • bg
  • A_Nonny_Mouse

    ” By 2020, the US is projected to become the world’s largest global oil producer … ”

    = = = = =

    Don’t worry; Dear Leader *CERTAINLY* has a plan to keep that from happening.

  • Interesting

    What a contrast to President Bush.

    Obama Shuts Down 1.6M Acres to Oil Shale Development
    by Ben Shapiro 9 Nov 2012

    Just two days after President Obama’s re-election, the Obama Interior Department announced a plan to shut down 1.6 million acres of federal land to oil shale development. The land had originally been slated for drilling under President George W. Bush.

    http://www.breitbart.com/Big-Government/2012/11/09/Obama-Admin-Shuts-Down-Drilling