Further to these posts,
U.S. oil output to overtake Saudi Arabia’s by 2020, IEA says
U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.
Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about five years starting about 2020, the Paris-based adviser to 28 nations said today in its annual World Energy Outlook. The U.S. met 83 percent of its needs in the first six months of this year, according to the Energy Department in Washington.
“The United States, which currently imports around 20 percent of its total energy needs, becomes all but self- sufficient,” the IEA said. That’s “a dramatic reversal of the trend seen in most other energy-importing countries.”
The U.S. is on track to be the highest annual level since 1991, according to Energy Department data. Rising domestic production cuts the country’s dependence on foreign oil and insulates it from supply disruptions abroad…
Saudi Arabia pumped 9.8 million barrels of oil a day last month, according to data compiled by Bloomberg. U.S. output was 6.7 million barrels a day in the week ended Nov. 2, according to the Energy Department. The U.S. is developing so-called tight oil reserves including the Bakken shale formation, which are extracted by hydraulic fracturing or horizontal drilling…
Enbridge’s Line 9 reversal touted as good oilsands PR
If Enbridge plan is approved, pipeline may carry oilsands oil to Montreal - and beyond
Enbridge says it’s not threatened by rival’s eastern oil pipeline plans
And one does start wondering whether TransCanada’s Keystone XL pipeline to the US–if President Obama eventually approves it–will be that commercially successful.
Mark Collins is a prolific Ottawa blogger
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