Free Markets, Free People


Private oil sector pushes US past Saudi Arabia in output

Funny … despite all the impediments the Obama administration has put on oil production on public land, the private sector – the market – has pushed us into a position we’ve never been in before in terms of output of oil and gas.   We’ve passed the Saudi’s in output:

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.

Now, imagine where we’d be if we didn’t have an obstructive administration bent on punishing those producers in that market via high taxation and regulation.  Or slow-walking permits for drilling on public land.  Or any of a myriad of other things this administration does to try to prevent oil and gas production.  Well, other than taking credit for the rise in production when they had nothing to do with it.

Had they gotten out of the way, had they helped us take advantage of these new finds, Saudi Arabia would have been in our rear view mirror a long time ago and my guess is, gas wouldn’t cost what it does today.

~McQ

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4 Responses to Private oil sector pushes US past Saudi Arabia in output

  • http://pjmedia.com/eddriscoll/2013/04/07/potemkin-protest/

    It all culminated in this one sign, which of all the signs at the protest disturbed me the most. Yes, Obama really did say “Show me the movement. Make me do it.” (At least according to Michael Pollan, who quoted Obama while speaking at an environmental event in 2009.) In fact, a more extended quote from that speech might explain the motivation behind this entire protest:
    Now, this agenda that I’m talking about, your own agenda, is not gonna happen just because we have a President and a First Lady who are sympathetic. That’s not how change comes. Change is much, much harder than that. Presidents cannot flip the switch and make things happen…. A friend of mine had occasion to have dinner with him and Michelle, and Obama made it clear that he got it, that he really did understand the issue, but he also said he didn’t think the time was right to push hard. He understood the forces arrayed on the other side and the great amount of political capital it would take to defeat them. … He challenged my friend, he said,
    ***“Show me the movement. Make me do it. Make me do it.”***

    That makes so many things clear.
    How’s that Keystone pipeline…which for those of us with a brain is a no-brainer…comin’ along…???

    • We’re only over a year over from the last time they fugged it over, right?

  • Almost all oil-producing countries (with exception of Canada and Mexico) are hostile to US.  And all of their governments are utterly dependent on oil income.  So if you really want to make them nervous, increasing oil/gas production is the way to do it.
    And the really poor countries in Africa are getting killed (quite literally – as in starving to death for food, or fighting over stolen oil), with all the high prices.
    This is a win for everybody you’d like to help, and a big hurt for everybody who doesn’t like you.