U.S. Could Be Largest Non-OPEC Oil Producer by 2014

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By the middle of next year, we’ll be producing more oil than Russia, the International Energy Agency says.

That means we’ll be the biggest producer of oil outside of OPEC, churning out more than 11 million barrels a day, CNNMoney says. It also means China probably now imports more oil than we do.

U.S. output this quarter is expected to fall about half a million barrels per day short of Russia’s, CNNMoney says. But investments in producing shale oil and gas will propel the U.S. ahead. IEA forecasts America could outproduce Saudi Arabia by 2020, and be energy independent by 2030.

That’s assuming shale oil- and gas-producing technologies such as hydraulic fracturing, or fracking, hold up to continued scrutiny. France has banned the practice over concerns it could damage water supplies, The New York Times says. The U.S. Environmental Protection Agency is studying the techniques and expects to release a report in 2014.

Fracking is a process “where millions of gallons of water, sand and chemicals are pumped underground to break apart the rock and release the gas,” ProPublica says. It has an infographic explaining the process.

From 2008 to 2011, American crude oil production rose 14 percent and natural gas production rose 10 percent, CNNMoney says.

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  • smokey347

    really? have you forgotten who’s in charge? if obumo and the dumbocraps have their way they’ll build windmills over oil fields.

    • ModernMode

      Yes, let’s pollute where all the poor people live…who cares about them anyway?

      • smokey347

        is it not better to drill our own oil and tax those companies than to continue to buy it from abroad? the poor people don’t reap any benefits from oil purchased abroad, only america’s enemies do.

  • ken

    Smokey347 we do not keep all that oil it goes on the world market.