The Fruits of Fracking; U. S. Domsestic Oil Production Exceeds Saudi Production

Watermelons and Malthusians hardest hit.

 

U.S. Passes Saudis In Oil Output, No Thanks To White House

By KATHLEEN HARTNETT WHITE
Investors Business Daily

In spite of the Obama Administration’s hostility to carbon-rich energy, private actors with private capital deployed on private (and state) land have launched a game-changing revolution in domestic oil and natural gas production.

A scarcely reported milestone conveys the magnitude of this turnaround in the global energy landscape.

The U.S. passed Saudi Arabia as the world’s largest petroleum producer in November 2012, according to recently released data of the federal Energy Information Administration.

Over the last five years, domestic oil output has risen 40% and continually outpaces projections. Last year, domestic output increased by 800,000 barrels per day. This is the largest increase in annual production since the first oil well was drilled in 1859 in Pennsylvania.

The U.S. is primed to become the world’s dominating energy powerhouse for decades to come unless President Obama elects to quash this private sector stimulus of enormous proportion.

 

The Democrats and their “progressive” fellow travelers said it couldn’t happen, energy independence and reliance on fossil fuels were mutually exclusive (and Nuclear was just right out).

They were wrong, despite their best efforts to thwart new production.

The Democrats and their watermelon masters are all that stands between the United States and a new era of prosperity.

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Posted by on April 8, 2013.
Filed under Business, Economics, Energy, Environment.
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  • herddog505

    This is impossible. Why, everybody knows that oil can’t be produced any sooner than ten years from today.

    • http://wizbangblog.com/author/rodney-graves/ Rodney G. Graves

      Not surprising that the media has largely ignored it.

    • stan25

      Which was a huge lie. I worked around the patch and it only takes about 6 weeks to get a well into production. That is from the time the drilling rig pulls off of the hole and completion. In some areas it even takes less time to finish a well.

      • herddog505

        Look, I’m not trying to cast aspersions on your honesty, but it ALWAYS takes AT LEAST ten years to start getting oil when a drilling project is contemplated, and, therefore, it never makes sense to start one.

        That’s what lefties tell us, and they wouldn’t lie, would they?

        /sarc

        • stan25

          The oil companies have all of the seismograph and geological info years in advance of any drilling on a site. The days of the hit and miss wildcatting have gone the way of the dodo bird, although there is still some going on. Sometimes with spectacular results. Even the corporate leases sometimes come up bust. The only thing that is a huge expense in drilling now days is all the pesky environmental crap they have to do before a location is even started out. In other words, a well that cost $10m to drill and complete (if it is viable), most of that is getting the environmental red tape cut.

          • herddog505

            But… but… but… Matt Damon says that it’s bad! And… and… democrats in Congress! And the president!

            My world has been shattered…

        • http://wizbangblog.com/author/rodney-graves/ Rodney G. Graves

          Only when their lips are moving…

  • Commander_Chico

    What’s the comparative cost of production per barrel?

    • http://wizbangblog.com/author/rodney-graves/ Rodney G. Graves

      Low enough, despite all the 0bama regulatory red tape, to be economically viable.

  • LiberalNightmare

    Geez, shouldnt we be out of oil by now?

    • http://wizbangblog.com/author/rodney-graves/ Rodney G. Graves

      The Watermelons would have us believe so…