[thackney]

The United States is already the world's number one oil producer in terms of all liquid oil production.

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That was poorly said. We may be the number one petroleum producer if you count things like Natural Gas Liquids, refinery gain, ethanol, etc.

Our Crude Oil production is 7.35 MMBPD.

http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbblpd_m.htm

Yet from the same data source we see:

But those numbers still look less than Saudi Arabia's total. They ended last year at 11.24 MMBPD.

http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=50&pid=53&aid=1&cid=&syid=2012&eyid=2013&freq=Q&unit=TBPD

[ckilmer]

My post here

http://www.freerepublic.com/focus/f-news/3038337/posts

gives some indication of what expected supply and demand will be for the next couple years.

It doesn’t look much like prices are going to fall much at all because rising US production will be met by falling production elsewhere and rising demand all over.

And right now —according to the article I’ve linked to here—my idea that US demand will continue to fall—looks to be wrong.

[ckilmer]

looks like the Mexicans are going to jack up the price of natural gas.
http://www.freerepublic.com/focus/f-news/3038368/posts