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Some experts just don't buy the IEA report predicting U.S. oil self-sufficiency. ITG's Manuj...

Some experts just don't buy the IEA report predicting U.S. oil self-sufficiency. ITG's Manuj Nikhanj believes there's no way output alone would meet U.S. demand, which already stands at 19M bbl/day; Morningstar's David McColl says Canada wouldn't be able to completely fill the gap, and in any case new shale areas might need to be opened to achieve predicted growth rates.
Comments (7)
  • Terry330
    , contributor
    Comments (866) | Send Message
     
    I believe in President Obama, America's biggest problem is the GOP controlled congress. Oil and gas production in US is at a record high, just last month we learned about Mitt Romney's investment in the china oil company that is taking American jobs.
    12 Nov 2012, 06:30 PM Reply Like
  • SoldHigh
    , contributor
    Comments (983) | Send Message
     
    LOL So clueless.

     

    Guess what - any competent manager knows that you invest globally as necessary for ROI.

     

    America's biggest problem is your demagogue who will have his EPA crush the O&G industry in every way he can.
    12 Nov 2012, 07:37 PM Reply Like
  • SoldHigh
    , contributor
    Comments (983) | Send Message
     
    Under Romney, America would have had a fair shot at energy independence. America's current energy production is high IN SPITE of Obama's polices!

     

    Under the current anti-business, anti-domestic energy president, we can rest assured that the previous four years of his EPA coming down hard on US energy will continue and probably accelerate.
    12 Nov 2012, 07:32 PM Reply Like
  • kmi
    , contributor
    Comments (3967) | Send Message
     
    Sooo... the recent sale of new leases in the gulf under Obama were part of his Machiavellian strategy to end oil development in the US? He's too devious for me, cause I can't see that strategy as reducing growth in US output...
    13 Nov 2012, 05:19 AM Reply Like
  • richjoy403
    , contributor
    Comments (8521) | Send Message
     
    [Enough of the political bickering...the election is over]

     

    As for the question of energy self-sufficiency...as I understand it, those who are serious about achieving it include total North American production, not just U.S. production.

     

    North America includes all the land mass north of South America (presently, some 23 countries). Even an informal definition of North America would include the U.S., Canada, and Mexico (all producers).

     

    North America does not need to be 100% self-sufficient to be unburdened from OPEC, and the seeming never-ending problems of the Middle East...80-85% would ensure that another 1973-type oil embargo, or other cut-off of the remaining 15-20% of oil consumption would be manageable.

     

    In addition, the 727 million barrel Strategic Oil Reserve, which equates to 36 days at 100% of current U.S. consumption, would extend about 5 times further if it only needed to fill a gap of 15-20%.
    12 Nov 2012, 08:10 PM Reply Like
  • kmi
    , contributor
    Comments (3967) | Send Message
     
    I suspect some of the assumptions in the report that get glossed over by the folks unwilling to agree with it are

     

    a) guesstimating forward that US consumption may either continue to decline or, if anything, not increase.

     

    b) energy source diversification, as in an increasing domestic reliance on other sources of energy, and, I'd suspect, natural gas would play an important role in this, in particular because of the rate we are growing supply.
    13 Nov 2012, 05:23 AM Reply Like
  • richjoy403
    , contributor
    Comments (8521) | Send Message
     
    kmi -- Both very appropriate additional points.
    13 Nov 2012, 08:13 AM Reply Like
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