Economy Opinion USA

In 2017, U.S. will steal the oil crown of Saudi

Oil production is traditionally accepted to consider as a dying industry in the United States. After 1970, when America was extracted 3.5 million barrels per day. Least of all oil has been produced in 2008 – 1.81 million barrels.

After that, despite the fact that it was not mentioned in the press, the production level is constantly rising. In 2009 it produced 1.95 million barrels in 2010 – 1.99 million. But recently there was a sharp, jump in production – production reached 7.5 million barrels per day  in 2011 (7.8 million according to the CIA). In this figure includes oil shale and “other liquids”, and America in terms of production now ranks third in the world (after Russia – 10.54 million barrels, and Saudi Arabia – 8.8 million barrels).

The company Goldman Sachs in September, said that by 2017 oil production in the U.S. will surpass the volume of production in Saudi Arabia.

The reason is the discovery of huge deposits of oil shale – from Canada south through the North and South Dakota, Wyoming, Colorado and Texas and east to Ohio and Pennsylvania.

In November, Anadarko announced that the observed field “Niobraro” in Colorado. Assessment of reserves exceeds one billion barrels. The company’s shares immediately rose 30%.

Goldman says that by 2017 America will produce 10.9 million barrels a day, and that is  – 397 billion barrels per year. With the current price of $ 100 per barrel is not surprising that the major oil companies have already entered the battle for the American black gold.

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