56°F
Sponsored by

U.S. Top Oil Producing Nation Outside of OPEC

When you think of top oil producing countries, it's probably names like Iran, or Saudi Arabia. But a new study shows that the U.S. is about to be named number one.
When you think of top oil producing countries, it's probably names like Iran, or Saudi Arabia.
But a new study shows that the U.S. is about to be named number one.

The U.S. is set to become the world's biggest oil producer, possiblly by next year, according to the IEA.
This only counts non-OPEC countries.

Because of that, Saudi Arabia is still the true number one.
Still, the move up would put the U .S. ahead of Russia.

Right now the nations are neck and neck, with both the U.S. and Russia producing around 10-million barrels of oil a day.

But production in Russia has been at one level for a few years, while the U.S. is experiencing a boom.

And there's one big reason why...fracking.

Improving technology is making oil easier to get out of shale rock.

But fracking's future isn't set in stone.

It depends on oil prices staying high enough to make fracking worth it.

And public support is a concern too.

According to a recent study from the Pew Research Institute,  49-percent of people are opposed to fracking... up from 38-percent 6-months ago.

But for now, will this boom mean lower gas prices?

Not necessarily.

Remember, we're one drop in a sea of oil.

Saudi Arabia, Canada, Mexico, and many other countries produce oil.

So, what goes on there factors into prices.

But, there is a silver lining.

The oil boom in the u-s should help compensate for any production disruptions that happen elsewhere, or if OPEC cuts back.

And we are on the path towards energy independence.


(Alison Kosik, CNN)

Page: [[$index + 1]]
comments powered by Disqus