Wednesday, October 24, 2012

U.S. World’s Top Oil Producer ! ?

How in the heck did my country come to this?

I mean really.

Our government mandates we put corn ethanol into our gas tanks, even though it is more expensive than gasoline. Meanwhile domestically producing record amounts of  gasoline.

All along gas prices at the pump climbed to, and remain unquestionably expensive.

Then to read an article which touch on a fact which we all should be cognizant of.

U.S. May Overtake Saudi Arabia As World’s Top Oil Producer

NEW YORK (AP) - U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951

The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year. That would be a record for the U.S. and just below Saudi Arabia's output of 11.6 million barrels. Citibank forecasts U.S. production could reach 13 million to 15 million barrels per day by 2020, helping to make North America "the new Middle East."


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