domestic oil production

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US May Soon Be World's Biggest Oil Producer Again

Output on course to surpass Russia, Saudi Arabia

(Newser) - The US is on pace to leapfrog both Saudi Arabia and Russia and reclaim the title of the world's biggest oil producer for the first time since the 1970s. The latest forecast from the US Energy Information Administration predicts that US output will grow next year to 11.8...

In 40-Year First, US Paves Way for Oil Exports

Administration allowing two firms leeway on 1970s ban

(Newser) - Since the 1970s, the US has largely banned the exporting of unrefined oil. But the rules put in place after that decade's Arab oil embargo are changing: The Commerce Department is allowing two companies to export condensate, a form of ultralight oil that can be turned into gasoline, diesel,...

US Nearly World's New No. 1 Oil-and-Gas Producer

Combined output set to overtake Russia

(Newser) - The shale oil and gas boom has transformed energy markets so much that the US is on course to become the world's biggest combined oil-and-gas producer this year—if it hasn't already overtaken Russia. In July, America produced around 22 million barrels a day of oil, natural gas...

US Will Be World's Top Oil Producer by 2020: Report

And green energy could surpass fossil fuels by 2035

(Newser) - Hello, energy independence: The US will become the world's top oil producer by 2020 and require almost no foreign energy by 2035, according to a new International Energy Agency report. The agency bases its daring prediction on the rise in output caused by new technologies like fracking, the LA ...

US Imports 1M Fewer Barrels of Oil Daily
 US Imports 1M Fewer 
 Barrels of Oil Daily 
new report

US Imports 1M Fewer Barrels of Oil Daily

White House report says we're closer to achieving energy security goals

(Newser) - The US is well on its way toward achieving President Obama's energy security goals as laid out a year ago, says an administration report out today. The White House is looking to cut oil imports by a third over the next decade, boost domestic oil and natural gas production,...

Obama OKs More Drilling in Alaska, Offshore

Orders annual lease sales in Alaska’s National Petroleum Reserve

(Newser) - With both gas prises and anger on the rise, President Obama has decided to allow new drilling in Alaska's national petroleum reserve. Lease sales in the 23.5 million-acre reserve—which serves as home to millions of migratory birds, two caribou herds, gray wolves, and other wildlife—have been...

Shell Gets Go Ahead for Arctic Drilling

Court clears the way for exploratory drill

(Newser) - Shell got the go ahead to ' drill, baby, drill ' in the Arctic this summer, after a three-judge panel rejected a legal challenge standing in the way of their plans. The court determined that the federal Minerals Management Service ( Um, remember them? ) weighed the potential threat to...

Wind Could Provide All US Power: Feds

Interior Dept. study sees offshore turbines generating energy

(Newser) - Offshore winds are a largely untapped resource that could potentially supply the US with even more electricity than it currently needs, according to a new Interior  Department report. The report says the area off the Atlantic coast could meet more than one-fourth of the national power demand, but the fact...

US Drilling Boom Stalls for Oil, Gas

(Newser) - It doesn't pay to drill, baby, drill anymore. Falling world prices have brought an end to the boom in domestic drilling for oil and natural gas, the New York Times reports. Last summer, 2,400 gas and oil rigs were deployed in the hunt for energy. Today, that figure is...

Student May Face Fed Charges for Fake Drilling Bids

Activist infiltrated auction, won 22,000 acres of federal land at auction in protest

(Newser) - A Utah college activist may face federal charges and jail for making bids he can't afford on scenic tracts in a federal drilling auction last month, the Washington Post reports. Economics student Tim DeChristopher wielded his red auction paddle 13 times to snag $1.8 million in property before federal...

Cheaper Oil Likely to Stay Awhile
 Cheaper Oil 
 Likely to 
 Stay Awhile 

Cheaper Oil Likely to Stay Awhile

Demand won't quickly return to old levels, and new tech, exploration keeps pressure off

(Newser) - Oil prices are down, and they’re likely to stay that way for now, writes Ronald Bailey for Reason. Not only did the recent spike in gas prices drive down demand in the US; it also heightened the effect of domestic and local production. Government mandates, made in response to...

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