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Page added on December 19, 2011
US on track to be an oil exporter
The contentious debate in Congress over the Keystone XL pipeline obscures one significant detail many Americans don’t realize: In the first three quarters of 2011, we exported more oil than we imported. This means it’s highly likely that this year will be the first time in more than six decades that the United States will be a net exporter of petroleum products, according to a report in USA Today Monday.
Analysts and scientists who study oil production say the trend is accelerating. An energy expert cited by USA Today predicts that the United States’ own production could rise to 2.9 billion barrels annually by the end of the decade.
Texas, Alaska and California are the top three oil-producing states; fourth on the list is North Dakota, where more advanced methods of production unlock the oil in shale beds, previously thought to be inaccessible. These include controversial extraction procedures like hydraulic fracturing or “fracking,” which opponents say can pollute water supplies and cause earthquakes.
Domestic production of crude oil has been climbing for the past three years, and crude imports have fallen by 10 percent in five years. Last year, the U.S. imported just under half of the oil it used. Oil imported from Middle Eastern countries like Saudi Arabia comprises a shrinking percentage of our total consumption.
More of the oil the U.S. imports comes from closer sources, primarily Canada. Last year, nearly half came from the Western Hemisphere. In the future, scientists predict that growing production in Brazil will also change the dynamic and reduce the amount of oil the U.S. imports from the Middle East.
3 Comments on "US on track to be an oil exporter"
DC on Tue, 20th Dec 2011 12:55 am
‘Crude’ production rose once the crude become redefined as anything vaguely ‘oil’ like.
Imports have shrunk b/c the economy in the empire is tanking. And simply b/c its becomeing increasing hard for the in-solvent US empire to keep paying for energy with money-from-thin-air, like it was been.
So what if your buying a little less from SA? Your gas-burning trash bin doesnt care who made it gas. If merika is buying a litle less, that just means someone else is probably buying a little more.
The US exports a refined FF products(net), you still import 2/3 of your primary crude.
IoW, article is 99% BS. Texas Alaksa and California are all past peak and have been for many years. Small upticks in local production are still possible, but will never reverse the decline, only slow it(temporarily at that).
BillT on Tue, 20th Dec 2011 4:02 am
What a crock of BS! We will never be a net exporter of oil again, ever! We will never even produce a large percentage of what we use and need. This is obviously propaganda from Big Petro, but the peak oil deniers will use it to support their dreams.
SilentRunning on Tue, 20th Dec 2011 7:51 am
Sorry, but I don’t believe it. Even as we get some more oil with exotic difficult dirty methods like hydrofracking, we are still depleting other oil wells which will be shrinking.
Net effect: Our oil production rate will decline less rapidly than if we didn’t employ hydrofracking. That’s not the same as growing production.
Fracking’s other big problem is that it is output is brief and then it declines precipitously. So it won’t be a sustained help – only a “flash in the pan”