U.S. could surpass Saudi oil output by 2020
USA Today, October 23, 2012

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% 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.

By the end of this year, U.S. crude output will be at its highest level since 1998 and oil imports will be lower than at any time since 1992, at 41% of consumption.



Four straight years of crude production increases? Hmmmmm......

Your source appears to be mistaken.






Maybe you should look at the US vs Saudi Arabian reserves.

Sources are not "mistaken". Go back and read the article again....it states nothing about reserves, only production.

And this translates how to price at the pump? This is MEANINGLESS! We are getting raped and the rape will continue no matter what!

You are absolutely right...we are being RAPED! Just as God intended??

how do you produce what you ain't got,or are prevented from accessing?

Its all about timing. The United States has plenty of oil, refined and otherwise.

The timing will coincide with several things. These things will be:

1. War and chaos in the middle east.
2. The breaching the USA's contract to buy middle eastern oil. (We don't need it.)
3. The fall of the US dollar. (The dollar is no longer the reserve currency.)
4. The new monetary system (being proposed by the IMF) of STATE PRINTED MONEY.

5. Crash of the stock markets.
6. End of the FED and Central Banking. (They have outlived their usefulness, the Elite no longer need them to steal from us, they have all the oil and energy in their control.)


As for the price of gas, it will go up to $5.00 - $7.00 or more per gallon which will be used to pay off the national debt to the Banksters.

http://mingle2.com/topic/show/241938

US Has Utterly Giant Oil Reserves

Well, that is exactly my point. Any discussion of production without discussion of reserves is meaningless.

Let's say the US could ramp up oil production to 12 million barrels per day. That is about what we use. (It is actually more complicated than that).

So for 1000 days we pump 12 million bbl/day; that is about 12 billion barrels over less than three years.

If you look at the charts above, you will see that the usable reserves of the US are estimated at 21.4 billion barrels. Do the math and see how much oil will be left by the year 2030.

Please note that oil imported from Canada is still imported oil.

News Headlines are intended to shock and get attention, not educate.

I wish more people would understand this fact.

that's something like trying make a Fist Without Fingers!

It should be noted that the cost of production goes up astronomically as the fields are pumped dry.

C'mon, it's easier to believe some stoopid conspiracy, than try to understand 'Peak Oil' production costs.

that holds good in other Fields too!

Russia Proves 'Peak Oil' Is
A Misleading Zionist Scam

If the opening paragraph of this report started by claiming that completely unlimited crude oil reserves exist inside planet earth, readers might be tempted to regard the entire text as preposterous ghostwriting for a novelist like Frederick Forsyth. If the report then went on to claim that the Russians have exploited this stunning reality for nearly thirty years, right under the largely unwitting noses of western intelligence, readers could be excused for mistaking the author for a lunatic, or perhaps as a front for spy novelist John le Carré. The problem here is that unlimited oil reserves do exist inside planet earth, and the Russians long ago developed the advanced technology necessary to recover these unlimited oil reserves in an efficient and timely manner.

Profoundly disturbing hard intelligence like this does not sit well with the frantic cries of western academic shills and lobbyists, determined to convince you all that the end of the oil world is nigh, or, more accurately, that America faces an imminent catastrophe when global production capacity "Peaks", i.e. when world demand for crude oil finally exceeds the rate at which we can physically pump the required product out of the ground. The gist of these false claims are outlined in a speech given at the at the University of Clausthal, by lobbyist Doctor Colin Campbell during December 2000:


http://rense.com/general75/zoil.htm

It starts again.

What are you talking about? Do you believe we have limited oil in this earth? If so, why?

Are you not aware that Russia has been drilling deep for oil for quite a while now?

In fact, they will be supplying China with oil.

Also, the rich Elite have been producing and refining oil in Alaska for a long time.

You are not aware of this?

Like Clockwork!

yep,all that Oil is stored under the Templemount,according to Rense!