[FoRK] US Reaches Peak Oil!

Eugen Leitl eugen at leitl.org
Mon Oct 7 23:15:48 PDT 2013

On Mon, Oct 07, 2013 at 06:09:28PM -0700, Stephen Williams wrote:
> Oh, did you mean a different kind of peak?
> http://www.cnbc.com/id/101087815

I'll just leave that here http://www.theoildrum.com/node/9584

> >
> >Unthinkable just a few years ago, North America is now well on its
> >way to energy independence, with the percent of U.S. imports from
> >overseas expected to continue to drop. Already, the U.S. had cut
> >back imports from Africa.
> >
> >"We are about 6 million barrels a day shy of it (energy
> >independence) in the U.S. and we're 3.5 million barrels a day
> >(short of it) in North America," said Edward Morse, global head of
> >commodities research at Citigroup. "The question is not whether
> >North America will be a net exporter to the rest of the world. The
> >question is whether the president will choose to lift the
> >restriction on the export of U.S. crude oil."
> >
> >According to /The Wall Street Journal/, the U.S. is overtaking
> >Russia as the world's largest producer of oil and gas. The U.S.
> >EIA reports that the U.S. produced the equivalent of about 22
> >million barrels a day of oil, natural gas and related fuels in
> >July, and Russia forecast its output at 21.8 million barrels a
> >day, according to the /Journal/. But Morse said that, according to
> >his calculations, the U.S. has already surpassed Russia. Citigroup
> >data show the U.S. surpassed Russian natural gas production in
> >2009, and in 2012, the U.S. produced 65.7 billion cubic feet a
> >day, versus Russia's 57.1. That's 11 million barrels of oil
> >equivalent, versus 9.82. Add to that U.S. production of oil and
> >natural gas liquids of 11 million barrels a day at the end of
> >2012, and the U.S. surpasses Russia, which produced 10.6 million
> >barrels a day. "Yes we are the largest oil producer in the world,
> >but we are the largest oil consumers in the world," said Gheit.
> >"If we produce 9 million barrels a day of crude oil in addition to
> >natural gas, we are consuming more than double that. Russia is a
> >net exporter of crude but we are a net importer of crude, to the
> >tune of 7 million barrels a day. It's a fact, and one important
> >thing is that our production costs are the highest in the world."
> Damn you Obama! [shakes fist]
> sdw
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Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org
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