2013 oil boom biggest on record
The United States’ average daily oil production is on track to surge by 1 million barrels per day this year, the biggest one-year jump in the nation’s history, according to federal data.And there is more to come. There is a chart at the link above that demonstrates the growth in domestic production that Democrats asserted was impossible. The growth would be even greater if those same Democrats would get out of the way of drilling on federally controlled sites. The Democrat policy of artificial scarcity is still being pushed by the Obama administration which is blocking drilling in the Western US and in some coastal regions.
The country has pumped an average of 7.5 million barrels of crude per day in 2013, up from 6.5 million barrels per day in 2012. That breaks last year’s record, when oil production jumped by 837,000 barrels per day between 2011 and 2012.
The U.S. Energy Information Administration projects that oil production will jump by another 1 million barrels per day in 2014, largely buoyed by drilling activity in Texas’ Eagle Ford Shale and Permian Basin regions, as well as North Dakota’s Bakken Shale.
The Gulf of Mexico also is seeing a boost, with oil production expected to grow to 1.4 million barrels per day in 2014, up by 100,000 barrels.