[thackney]

U.S. Liquid Fuels Supply and Imports
http://www.eia.gov/forecasts/steo/report/us_oil.cfm
February 12, 2013

EIA expects U.S. crude oil production to continue to grow rapidly over the next two years, increasing from an average 6.4 million bbl/d in 2012 to average 7.3 million bbl/d in 2013 and 7.8 million bbl/d in 2014. Central to this projected growth will be continuing development of onshore basins. Drilling in tight oil plays in the Williston, Western Gulf, and Permian Basins is expected to account for the bulk of forecast production growth over the next two years.

Alaskan crude oil production reached a seasonal low last year of 400,000 bbl/d in August 2012, when summer maintenance typically decreases volumes, but recovered to 550,000 bbl/d in October. EIA expects Alaskan crude oil production will decline from an average of 530,000 bbl/d in 2012 to 500,000 bbl/d in 2013 and 470,000 bbl/d in 2014.

U.S. federal Gulf of Mexico (GOM) crude oil production averaged an estimated 1.3 million bbl/d in 2012, about 50,000 bbl/d lower than during 2011. EIA expects GOM production to increase to an average of 1.4 million bbl/d in 2013. Much of that increase is due to new projects that started producing in 2012, but continued to increase until late 2012 or early 2013, and six new field start-ups. Projected GOM production continues to increase in 2014, averaging 1.5 million bbl/d, as several relatively high-volume deepwater projects are expected onstream.

Since peaking in 2005 at 12.5 million bbl/d, U.S. liquid fuel net imports, including crude oil, have been falling. Total net imports fell to 7.5 million bbl/d in 2012, and EIA expects imports to continue declining to an average of 6.1 million bbl/d by 2014. Similarly, the share of total U.S. consumption met by liquid fuel net imports peaked at more than 60 percent in 2005 and fell to an average of 40 percent in 2012. EIA expects the net import share to fall to 32 percent in 2014 because of continued substantial increases in domestic crude oil production.

[Parley Baer]

What ticks me off is that Obama and his cronies have done everything they can to curtail oil, gas and coal production in this country but you can bet they will take all the credit for all the good that will come out of this.

[stboz]

If you think the Bakken is big, wait ‘till you hear about the Cline.

[Red Badger]

Unlocking unconventional energy will generate millions of jobs and billions in government receipts, Eumont added.

Which is precisely why they won't allow it. It's not about the money, it's about CONTROL!.............

[The Cajun]

Also lots of decent wells were P&A when the Saudis dropped the price artificially by opening the taps years ago.
Think the price came down to around $10 a barrel.
A bunch of independents went out of business.
Those wells are still there and could be produced with a profit at present prices.