Domestic Oil Production on the Rise

Future of fossil fuels

Domestic Oil Production on the Rise

ROB MCCLENDON: WELL SINCE MID-2009, MORE THAN 1,100 NEW OIL RIGS HAVE BEGUN PUMPING IN THE UNITED STATES, ABOUT ONE NEW RIG PER DAY. AND WHILE DOMESTIC OIL PRODUCTION HAS REACHED ITS HIGHEST POINT SINCE 2003, IT IS STILL LESS THAN ONE-THIRD OF THE OIL CONSUMED BY AMERICANS.

HiGHEST

IF YOU WILL, TAKE A LOOK AT THIS WITH ME.

EACH DAY HERE IN THE U S WE CONSUME RIGHT AT TWENTY MILLION BARRELS OF OIL. NOW OF THAT, ALMOST SIX MILLION BARRELS ARE DOMESTICALLY PRODUCED OIL, AND WHILE U S OIL PRODUCTION IS AT ITS HIGHEST POINT SINCE 2003, WE STILL IMPORT ALL THE REST OF THIS OIL. NOW GRANTED SOME OF IT IS FROM FRIENDLY NATIONS, LIKE CANADA AND MEXICO, HERE IN NORTH AMERICA. BUT THE REST OF OUR OIL IMPORTS?

WELL THEY COME FROM ABROAD, FROM NATIONS WE OFTEN HAVE UNEASY ALLIANCES WITH. BUT WHEN IT COMES TO NATURAL GAS, THE NEWS IS MUCH BETTER FOR THE FIRST TIME, WE’RE USING AS MUCH NATURAL GAS AS COAL TO GENERATE AMERICAN ELECTRICITY. NATURAL GAS PRICES NOW RIVAL THAT OF COAL, HAVING FALLEN THANKS TO OUR ABUNDANT AMERICAN SUPPLIES.

YET, DESPITE THIS DRAMATIC RISE IN NATURAL GAS FOR ELECTRICITY PRODUCTION, WHEN IT COMES TO TRANSPORTATION IT IS ANOTHER STORY. TRAVEL, RISING
NINETY-THREE PERCENT OF AMERICAN TRANSPORTATION STILL DEPENDS ON PETROLEUM; IN FACT, TRANSPORTATION IS MORE OIL-RELIANT THAN ANY OTHER U S ECONOMIC SECTOR ON FOREIGN OIL. 100 NEW OIL RIGS HAVE
NOW, SEVENTY-ONE PERCENT OF OUR COUNTRY’S ENTIRE OIL SUPPLY, BOTH DOMESTIC AND IMPORTED, NOW GOES TO POWER VARIOUS TYPES OF CARS AND TRUCKS THAT WE ALL DEPEND UPON.

HERE IS MORE FROM OUR FRIENDS AT FACE THE FACTS USA. WE’RE NUMBER ONE! AS IN U S TRANSPORTATION SYSTEM IS THE LARGEST IN THE WORLD; AND OUR HIGHWAY VEHICLES, AIRPLANES, BOATS, AND RAIL GOBBLE UP THIRTEEN-POINT-SIX MILLION BARRELS OF OIL PER DAY. IN JUST FOUR DAYS, THAT’S ENOUGH BARRELS TO CIRCLE THE GLOBE. AS AMERICANS CONTINUE TO
WITH 93 PERCENT OF OUR PLANES, TRAINS AND AUTOMOBILES FUELED BY OIL, U S TRANSPORTATION SYSTEM IS ALMOST COMPLETELY DEPENDENT ON PETROLEUM.

BUT THIS HEAVY RELIANCE ON PETROLEUM HAS ITS SIDE AFFECTS. THE C-O-2 EMMISSIONS FROM AMERICAN TRANSPORTATION ALONE WERE HIGHER THAN THE TOTAL EMMISSIONS FROM ALL SOURCES OF ANY OTHER NATION EXCEPT CHINA. NOW THAT’S A LOT OF GAS. GREENHOUSE GAS EMMISSIONS FROM TRANSPORTATION HAVE INCREASED BY ABOUT NINETEEN PERCENT SINCE 1990. THIS HISTORICAL INCREASE IS LARGELY DUE TO INCREASED DEMAND FOR TRAVEL, RISING INCOME AND THE STAGNATION OF FUEL EFFICIENT VEHICLES.

AS AMERICANS CONTINUE TO TRAVEL, WHETHER ACROSS TOWN OR AROUND THE WORLD, THEY’LL LEAVE THEIR MARK ON ONE THING FOR SURE – THE ENVIRONMENT EXPLORE MORE AT FACE THE FACTS USA DOT ORG. PROMINENT OKLAHOMANS PROVE SUCCESSFUL
ROB: BUT OUR COUNTRY’S DEPENDENCE ON FOREIGN OIL COULD SOON LESSEN IF THE EFFORTS OF SOME PROMINENT OKLAHOMANS PROVE SUCCESSFUL.