I VOTED FOR OBAMA BUT DON'T EXAGERATE INCREASED OIL PRODUCTION NUMBERS. Posted on March 15, 2012 at 05:04:18 PM by Gasolinejoe, reporter.
In 2000, USA oil production was approx 5.8 million barrels a day. Today it is 5.9 m/b/d. That's about 100.000 m/b/d. Big deal. ( All the increase came from North Dakota) One of Brazil's oil companies, Petrobras, plans to triple production to 6 m/b/d by 2020. Cars/SUVs made today by Chrysler, Ford,and GM will need gas 8 years from now. Yes? No?... That's a 50 billion investment. Drill, baby drill? We know that they have sg/ethanol. Nuks., small, simple cars... Yet, they are uping production. All of the above..
P.S. If we produce approx 6 m/b/d. of crude oil, and import approx 9 of crude oil , now is that 48% imported oil???
Are they counting N.G. as fluids? etc.
Oil is not exported, the finished product is. Demand for gas is down, so export what's in inventory...Like "GM selling cars to S Korea and China." says Obama.
NOTES: The US produced 1 billion gallons of bio-diesel in 2011. We used 45 billion/g p/y.