FYI Oil production in the lower 48 of the USA has been going up for the last two years, gas production is going through the roof and wind/solar/geothermal sources are gaining fast. That, along with energy conservation of all types including pricing mechanisms not only is lowering our imports of petroleum products vis-a-via where it might otherwise be but also is helping to damp down energy costs over where they would otherwise be.
Also there is a shortage of drilling rigs in some areas , particularly ultra-deep water rigs, as well as a shortage of qualified oil field operators of various kinds. It does not matter much at all if there were to be some out years delays in domestic offshore oil production, if deep offshore oil drilling technology gets more productive and less expensive as a result of our waiting now, US oil production figures in out years are unlikely to change much if at all, and might even be higher................
An important issue which could, however, slow domestic fossil fuel production growth , especially gas, is ,obviously the fracking issue. I wonder how that will play out.
I actually think even with Alaska production tailing off our overall fossil fuels production is up since latter 2009, but will check.
fs the tech. gets less expensive from the |
