[FoRK] US Reaches Peak Oil!

Bill Kearney wkearney99 at hotmail.com
Tue Oct 8 04:06:31 PDT 2013

It will still run out.  And perhaps it's better to squander everyone else's 

-----Original Message----- 

Oh, did you mean a different kind of peak?

> 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]


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