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Discussion: (8 comments)

  1. The question is – will the next 2M bpd be gained equally fast, as the article anticipates?

    The CA Monterey shale is not being tapped, neither is Alaska’s ANWR.

    If we can nonetheless gain another 2M/day in 2 years, then imports are greatly slashed. We could shrink Middle Eastern imports down to a tiny level.

    1. I would guess the slope can not go “90 degrees” much longer, and will start to flatten out. But I would guess we have several years before the slowdown is noticable. Even if every month the oil procuction increases the same amount, the % increase will go down. That is what makes this so amazing, the oil output not only is increasing but it is increasing at a vastly greater rate every month.

  2. This article says Crude Oil is under 8M barrels/day.

    Yesterday’s article about ‘total petroleum’ indicates that the US produces over 12M barrels/day, if natural gas liquids and refined petroleum are added to that.

    But oil imports do not drop due to the 12M number including more varieties of liquids than the 8M number. Imports apparently only drop in proportion to how much this 8M number in this article, goes up.

    1. Yes because we don’t use the alternate energy forms much in place of liquid fuels. Liquid fuels are excellent for mobile transportation, but are too expensive for most power generation.

  3. “…surpass 9 million bpd by next fall, and then reach the important 10 million bpd milestone in early 2014.”

    I infer from the context that the 10 million bpd in early 2014 is a typo and should instead read 2015.

    1. Yes, thank you, I fixed it.

  4. Benjamin Cole

    And we spent $3 trillion to secure Iraq oil—and failed?

    At $100 a barrel, the world will produce gushers of oil…demand will be flat…

    1. hitssquad

      If new-vehicle EPA-cycle efficiency rises, fuel-demand will also rise.

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