Saudi Arabia reduced its output to 9.67 million barrels a day last month. Phil Weymouth/Bloomberg
U.S. Passes Saudis In Oil Output, No Thanks To White House -- Kathleen Hartnett White, Investors Business Daily
In spite of the Obama Administration's hostility to carbon-rich energy, private actors with private capital deployed on private (and state) land have launched a game-changing revolution in domestic oil and natural gas production.
A scarcely reported milestone conveys the magnitude of this turnaround in the global energy landscape.
The U.S. passed Saudi Arabia as the world's largest petroleum producer in November 2012, according to recently released data of the federal Energy Information Administration.
Over the last five years, domestic oil output has risen 40% and continually outpaces projections. Last year, domestic output increased by 800,000 barrels per day. This is the largest increase in annual production since the first oil well was drilled in 1859 in Pennsylvania.
Read more ....
Update: The Oil Boom Continues -- John Steele Gordon
My Comment: One can only wonder what the situation would be if additional U.S. Federal lands and more off-shore oil exploration were permitted .... but (realistically) this is not going to happen with this administration.