[FoRK] US Reaches Peak Oil!

Stephen D. Williams sdw at lig.net
Tue Oct 8 00:44:52 PDT 2013

On 10/7/13 11:15 PM, Eugen Leitl wrote:
> 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

Rats, not even the other kind of peak!  Still, with Canada, a lot closer than I thought.  And the liquid-for-transportation argument 
becomes weaker if we mostly switch to electric vehicles.

Thanks for the link.


>>> 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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