US oil production increases (barely); imports down
For the first time since 1991, US crude oil production actually increased in 2007, according to data released by the US Energy Information Agency. US production in 2007 totalled 1.862 billion barrels, an increase of just 182,000 barrels (or one one-hundreth of one percent) over 2006. Although the year-over-year increase is very small, it is the first time that production has increased since 1991, but is only the tenth time that annual oil production has grown since the production peak that occured in 1970, nearly 40 years ago.
After nearly a century of explosive growth, US production of oil very dramatically peaked in 1970 at 3.52 billion barrels. Although production did surge again in the early 1980s, it never again reached the 1970 level, and has been in decline since 1985, losing, on average, about 1.8% per year.
But in other good news, crude oil imports also declined very slightly to 3.656 billion barrels in 2007, down approximately one percent from the all-time peak of 3.696 billion barrels, which occured in 2005.
Posted: Monday, Mar 31, 2008 6:34 pm by adam
File as: Energy; Peak Oil
Comments
Comment from Ray Thompson
Time: Sunday, Jun 22, 2008, 11:10 am
Why do you have this Obama’08 endorsement on your site?
If it is paid banner, then it should identified as such.
Comment from adam
Time: Sunday, Jun 22, 2008, 5:34 pm
Ray, I have the Obama banner because I support and endorse Obama, just as I had supported and endorsed Richardson during the primaries. I am not and have not been paid by anyone, for anything, that you see listed on this blog.
Comment from Sam
Time: Saturday, Jun 28, 2008, 5:44 pm
Obama 08
Comment from Lex
Time: Tuesday, Jul 1, 2008, 3:33 pm
I wish they would drill more. Oil is renewable anyways. Another thing that bothers me is the fact that other countries come to the U.S., drill the oil on OUR shores, and then they sell it back to us. We should be drilling for that ourselves. The U.S. produces more oil than the OPEC countries combined. if u wanna talk politics… Ron Paul 2008 (yes, he dropped out of the election on the 11th, but u can still write in his name. if anybody else gets it, we’ll be screwed.)
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Time: Monday, Jul 7, 2008, 7:20 am
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Time: Thursday, Jul 10, 2008, 7:05 am
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