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March 02, 2010

US Oil Production Climbing Back up the Peak

US Oil production is climbing back up after a long 40 year decline

Net Imports in 2009 and the first month of 2010 are back to the levels of 1999-1999 and heading towards 1997 levels. Net Imports of oil kept increasing until 2005 and have been declining since that time.


Field production including crude oil and natural gas liquids is back to 2003 -2004 levels.

There will be more Bakken Oil production this year. Perhaps 100,000-200,000 barrels of oil per day increase. There will be more oil from Gulf of Mexico oil.

Renewable fuels and oxygenate plant net production which is over 800,000 barrels per day is ethanol and biofuel. This category will continue to climb and the department of Energy is trying to double current ethanol and biofuel production in the 2015-2020 timeframe.



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