The US is on pace to become a leader in oil production?

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  1. adjkp25 profile image78
    adjkp25posted 12 years ago

    I knew that our production was up but I wasn't aware that we were right on Saudi Arabia's heals in production per day.  Pretty interesting information, here is the link:

    http://news.yahoo.com/us-may-soon-becom … nance.html

    The US has been producing about 10.9 million barrels a day so far in 2012 and Saudi Arabia is around 11.6 million.

    replyreport
    1. profile image0
      JaxsonRaineposted 12 years agoin reply to this

      It's because OPEC limits supply to keep the price of gas high(aka price fixing).

      replyreport
      1. adjkp25 profile image78
        adjkp25posted 12 years agoin reply to this

        OK but it was cool to see the USA's production getting up there, especially with so many people thinking that we aren't increasing production.

        replyreport
  2. wilderness profile image77
    wildernessposted 12 years ago

    Personally, I think this may be a long term mistake in the making.  Oil is a finite resource and someday it will be gone or at least very limited.  Better at that point that we have large reserves in relation to the rest of the world, even if it means biting the bullet now and paying higher prices for our oil addiction. 

    Whether that point is 10 years, 50 years or 100 years in the future, it will come; to use our own resources now is short sightedness typical of today's mindset of greed.

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    1. profile image0
      JaxsonRaineposted 12 years agoin reply to this

      No, much better to use our oil now, to stimulate our economy.

      In the US, we have enough oil to keep us going for more than 200 years at our current consumption. That is waaaaay more than enough time for us to transition off of our dependency. We are making huge gains in battery tech and fission, I would imagine we could have all of our travel covered by cheap electric(think $0.01/gallon gas) within the next 100 years.

      replyreport
  3. maxoxam41 profile image68
    maxoxam41posted 12 years ago

    If it is the case why is it stealing oil from proven oil reserves countries? And don't tell me because they were dictatorships ( Saudi Arabia is the worst)? I guess that's what makes the difference the proven oil reserves not the production!

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