IEA: US will be world’s largest oil producer in 2015

posted at 10:51 am on November 13, 2013 by Bruce McQuain

In a spot of good news, the IEA has stated that, according to their research and projections the US will take over the top spot as the world’s largest oil producer in 2015:

The United States will surpass Russia and Saudi Arabia to become the world’s largest oil producer in 2015, the International Energy Agency forecasts.

But the IEA’s long-term energy outlook, released Tuesday, predicted the Middle East will retake its position a decade later as the dominant source of global oil supply growth.

The boom in the US has primarily been on state and private land (not Federal) and mostly as a result of hydraulic fracturing:

American energy production is skyrocketing, led by Texas and North Dakota, as oil companies use the techniques of hydraulic fracturing and horizontal drilling to tap oil and natural gas trapped in shale rock.

“Technology and high prices are unlocking new supplies of oil, and of course also gas, that were previously thought to be out of reach,” Maria van der Hoeven, the IEA’s executive director, said Tuesday.

If Federal land were opened to this technique, on might surmise the “boom” would continue.  But everyone pretty well knows this administration is not a friend of our oil industry.  Consequently:

The International Energy Agency, which advises governments on energy issues, said America’s ascendancy as the world’s oil king is coming sooner than expected, and that North America’s need for oil imports will all but disappear by 2035.

But the Middle East, boosted by a surge in Iraqi production, is expected starting in the mid-2020s to take back its role as the world’s oil powerhouse as America’s shale oil output peaks and then starts a decline.

The International Energy Agency forecasts that “sweet spots” in America’s top shale oilfields will run out and that the drilling will move to less productive areas that struggle in cost competition with other nations.

Again, those “sweet spots” are currently found in mostly private and state lands as of this date.  Could there be as much if not more oil in Federal lands or offshore?  Our government has shown absolutely no interest in finding out.
But if the IEA’s projection is true and we can be self-sufficient in 2035, that lessens the power of the oil cartels pretty significantly.  And that’s good new regardless of anything else.
~McQ

 

 


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Maybe we could use that oil to fix the font passed the first blockquote?!

The Nerve on November 13, 2013 at 10:55 AM

Drill, baby drill…

OmahaConservative on November 13, 2013 at 10:56 AM

But if the IEA’s projection is true and we can be self-sufficient in 2035, that lessens the power of the oil cartels pretty significantly. And that’s good new regardless of anything else.

Drill…Drill…Drill

workingclass artist on November 13, 2013 at 11:01 AM

Sure bet 0bumble will try to take credit – but this is DESPITE 0bumble and his greeny cronies.

dentarthurdent on November 13, 2013 at 11:03 AM

…but first we have to crush the watermelons.

JEM on November 13, 2013 at 11:03 AM

In spite of Obama. Heh.

natasha333 on November 13, 2013 at 11:04 AM

This production should be happening across the nation…

“It’s energy news that could have some people saying, “Don’t mess with Texas.”

According to oilfield services company Baker Hughes Inc., Texas has 47 percent of all drilling rigs currently at work in the United States, with 812 drilling rigs working in Texas in late October.

Dana Bohan of Energy in Depth, a research and public outreach campaign launched by the Independent Petroleum Association of America, says that’s no surprise.

“Texas has historically led the U.S. in energy production and with the development of the Permian Basin, which is an oil field in West Texas, we now have roughly 15 percent of U.S. oil production coming from West Texas.”

Texas mapAccording to Bohan, if Texas was a country, it would be one of the 15 largest oil producers in the world. Not only has Texas had “historic production,” she says, it has led “the path forward” on shale development, and using advanced technology to access new oil and gas reserves.

http://www.onenewsnow.com/business/2013/11/01/like-its-own-country-west-texas-oil-production-outpaces-rest-of-country

workingclass artist on November 13, 2013 at 11:05 AM

But if the IEA’s projection is true and we can be self-sufficient in 2035, that lessens the power of the oil cartels pretty significantly. And that’s good new regardless of anything else.

They are replacing that power with acquiring nukes. Thank you Smart Power!, and Leading From Behind!

Mimzey on November 13, 2013 at 11:06 AM

In non-bizarro US our leadership would be touting this from the mountain top and using this as a launching point to force concessions ofthe Middle East and fund next generation energy technologies like nuclear…

But we live in Obamas America where this is “unfortunate”

Skywise on November 13, 2013 at 11:11 AM

But by that time we will have windmill powered cars, and solar energy running everything, so who will buy that oil? /s

Wander on November 13, 2013 at 11:14 AM

Seems like I remember someone noting that “drill baby drill” could be the path to future prosperity for our nation…

Maybe the GOP could use Energy Policy as a primary economic principle for the 2016 election?

Just my thoughts…

cs89 on November 13, 2013 at 11:27 AM

Let’s just keep Obama and his “fecal touch” out of the oil industry. That way we can keep it going. The worst thing that can happen to a business is to hear the Obama is supporting it or coming for visit. That mean bankruptcy is a few weeks/months away.

jukin3 on November 13, 2013 at 11:28 AM

In a spot of good news, the IEA has stated that, according to their research and projections the US will take over the top spot as the world’s largest oil producer in 2015:

Should say “reclaiming the top spot” because I am certain that the US led the world in oil production for decades at the dawn of the age of petroleum.

slickwillie2001 on November 13, 2013 at 11:31 AM

The U.S.A. needs energy, and using our own oil and natural gas is vital to both our economy and our national security.

Communists and Jihadists don’t want the U.S.A. to be prosperous and energy-independent. Communists and Jihadists want the U.S.A. to be paying big bucks to import oil from Communists and Jihadists. Look at whom we import oil from… and look at their ties to Communists and Jihadists.

The whole “Anthropogenic Global Warming” junk science is largely driven by those who do not want the U.S. to use our oil and natural gas resources. So they tell BIG LIES to keep us controlled and dependent.

Want FREEDOM?

Drill Here, Drill Now!

ITguy on November 13, 2013 at 11:33 AM

Obama promptly got on TV: “let me be clear-if you like your top oil producing spot, you can keep your spot…”

anikol on November 13, 2013 at 11:39 AM

Hmmmm….

“But it might be a big issue that is turned on its head, he said.

“The whole immigration debate I will suggest to you is going to change drastically in the next 12 to 24 months,” Perry said in an interview with The Dallas Morning News.

If Mexico President Enrique Pena Nieto succeeds in opening the country’s energy development to foreign investments, Perry believes it would create an economic surge, producing a massive array of new jobs.

The country’s oil is controlled by the state-owned energy monopoly Pemex. The Mexican constitution currently prohibits private investments in Pemex.

But if Pena Nieto is successful in lobbying for a change in the constitution and opening up the Mexico energy markets, it could change the immigration dynamic in the U.S., Perry believes…”

http://trailblazersblog.dallasnews.com/2013/11/rick-perry-says-mexico-energy-policy-might-resolve-illegal-immigration.html/

workingclass artist on November 13, 2013 at 11:42 AM

The greatest guarantee of the success of this boom is that President Obama is resisting it. If he were supporting it, we’d probably be spending $600 million for a new mandatory drill rig that makes other “substandard” drill rigs illegal while not actually functioning at all. For the children.

JeremiahJohnson on November 13, 2013 at 12:26 PM

Gas is $3.50/gal and 1: you never hear about the cost of gas or heating oil in the media, and 2: could you imagine what it would be if not for capitalism!?!?

The inmates are running the asylum, the media is happily supporting them with propaganda (or a lack thereof) and the American people say “meh”.

KMC1 on November 13, 2013 at 12:26 PM

Imagine what shape we would be in if the Administration decided to reverse their policies to reduce drilling on federal lands, if Admin and State officials would lessen their restrictions on fracking, and if the Administration would approve of needed infrastructure improvements like the Keystone XL pipeline?

The US / Canada could become entirely self-sufficient for their energy requirements, with the strong possibility that the US could be energy independent on its own. In fact, the US could find ready export markets for its natural gas to Europe – providing trade assistance to our friends and allies who are at risk of being blackmailed by Russia.

The jobs, economic growth, and positive impact on our trade balance sheets would bring a real boost to this stagnant economy.

Of course, those pro-business and pro-free market initiatives are completely contrary to the agenda of the progressive who are in charge – the one’s far more willing to sink billions in losses into economically unviable green initiatives or the socialist agenda of environmentalism.

Athos on November 13, 2013 at 12:33 PM

IEA: US will be world’s largest oil producer in 2015

“We’ll just see about that” – The Left.

Cleombrotus on November 13, 2013 at 12:53 PM

Next up: 0b00ba will put up a web site from which we will all be compelled to fill our tanks.

Akzed on November 13, 2013 at 1:02 PM

IEA: US will be world’s largest oil producer in 2015.

And oh, how this pisses off:

The Left

General Electric

The global ruling class

Saudi royal Family

The whack environNazi’s

And the Russian KGB elites running their government

But Obama is going to tamp this down with lots of new NATIONAL PARK LAND to cut off any further exploration opportunities.

PappyD61 on November 13, 2013 at 1:52 PM

http://www.reuters.com/article/2013/10/31/us-usa-interior-conservation-idUSBRE99U1AZ20131031

President Barack Obama will use his executive powers to protect more mountains, rivers and forests from development if Congress does not act to preserve such wild spaces, the U.S. Interior Secretary said on Thursday.

Portions of the Grand Canyon, Redwood forests in California and Caribbean seascapes have been protected under the 1906 Antiquities Act, which gives the president broad authority to put natural terrain and historic sites under federal protection.

Such preservation efforts can also come through Congress but presidents in a second term have typically felt freer to designate such spaces unilaterally.

On Thursday, Interior Secretary Sally Jewell said that the president was ready to move ahead.

“There’s no question that if Congress doesn’t act, we will act,” Jewell said at a luncheon at the National Press Club in Washington.

PappyD61 on November 13, 2013 at 1:54 PM

President Barack Obama will use his executive powers to protect more mountains, rivers and forests from development if Congress does not act to preserve such wild spaces, the U.S. Interior Secretary said on Thursday.
PappyD61 on November 13, 2013 at 1:54 PM

Don’t forget the grasslands. A lot of this drilling is on open empty prairie / grasslands – gotta protect those for the millions of free roaming bison and mice….

dentarthurdent on November 13, 2013 at 2:06 PM