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Texas Oil Production May Hit Record by 2020, Regulator Says

Bloomberg -- Texas is poised to more than double daily oil production by 2020, surpassing a 1972 record with surging output from the Eagle Ford shale and Permian Basin, the state’s petroleum regulator said.
Oil production may rise to as much as 1.75 million barrels a day in 2013 from about 1.5 million barrels a day last year, Barry Smitherman, chairman of the Railroad Commission of Texas, said in an interview at the IHS CERAWeek conference in Houston today. The commission oversees oil and gas drilling and production in the state.
By 2020, Texas’ crude output may exceed the 3.45 million barrels a day seen in 1972 if prices stay high enough to make drilling economic, he said.
“The Eagle Ford really continues to ramp up, especially the liquids and crude portion,” Smitherman said.
The Eagle Ford, which...

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Submitted Mar 07, 2013 By: 1studman

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sydb7 Champion Author Atlanta Posts:3,657 Points:1,941,890 Joined:Mar 2003	Message Posted: Mar 9, 2013 6:59:51 AM Ignore sydb7 Report Abuse This will be no help at the pump!
rjr54 Champion Author Winnipeg Posts:1,115 Points:395,370 Joined:Feb 2005	Message Posted: Mar 8, 2013 11:26:38 PM Ignore rjr54 Report Abuse "By 2020, Texas’ crude output may exceed the 3.45 million barrels a day" The USA consumption is 20 million so it will reduce imports slightly. But will not likely change prices much.
rrs517 Champion Author Colorado Posts:1,065 Points:372,180 Joined:Apr 2006	Message Posted: Mar 8, 2013 6:57:53 AM Ignore rrs517 Report Abuse Old, very old news.
tomok Champion Author Portland Posts:33,595 Points:2,373,210 Joined:Aug 2006	Message Posted: Mar 8, 2013 1:26:12 AM Ignore tomok Report Abuse Texas Oil Production May Hit Record by 2020! Texas may hit an oil production record but will that fuel produced from oil stay in the US? NOT! Will fuel prices at the pump go down? NOT! Big Oil and Big Gas sells fuel and natural gas on the world market for higher prices. The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - $3, $3.50/gallon or *$4.00 is Not the new low! More Refineries are Not the answer, Stop exporting fuel is! Take care of the domestic fuel market first before exporting and selling our fuel or oil! Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
jethro5000 Champion Author Kentucky Posts:2,018 Points:418,935 Joined:Jun 2005	Message Posted: Mar 8, 2013 12:35:44 AM Ignore jethro5000 Report Abuse Yesterday's news...
bcok Champion Author Los Angeles Posts:2,181 Points:1,555,520 Joined:Oct 2005	Message Posted: Mar 8, 2013 12:18:53 AM Ignore bcok Report Abuse ok
KrsnaDragon Champion Author Montreal Posts:2,547 Points:559,000 Joined:Nov 2011	Message Posted: Mar 7, 2013 11:50:24 PM Ignore KrsnaDragon Report Abuse Hmm...
MAC48 Champion Author Dallas Posts:1,580 Points:788,525 Joined:Dec 2006	Message Posted: Mar 7, 2013 11:47:55 PM Ignore MAC48 Report Abuse These are definitely exciting times in the Texas oil patches. There is another shale formation primarily in Scurry County, Texas that is estimated to be larger than the Eagle Ford in terms of recoverable crude oil, natural gas and natural gas liquids.
rap12MA All-Star Author Boston Posts:601 Points:180,575 Joined:Mar 2012	Message Posted: Mar 7, 2013 11:44:02 PM Ignore rap12MA Report Abuse Not knowing what supply and demand means anymore in this country, it may be a blessing or it may be a curse.
Zonk Champion Author Michigan Posts:6,621 Points:2,129,715 Joined:Oct 2005	Message Posted: Mar 7, 2013 11:43:49 PM Ignore Zonk Report Abuse Sounds like things are going in the correct direction.
defiancegasman Champion Author Ohio Posts:7,099 Points:1,327,520 Joined:May 2006	Message Posted: Mar 7, 2013 11:38:47 PM Ignore defiancegasman Report Abuse OLD
pa79th Champion Author Pennsylvania Posts:1,922 Points:1,243,800 Joined:Jun 2007	Message Posted: Mar 7, 2013 11:32:13 PM Ignore pa79th Report Abuse That's sure to drive the prices up! Haven't seen anything yet that drives them down.
CDMAuto Champion Author Connecticut Posts:3,932 Points:781,555 Joined:Apr 2011	Message Posted: Mar 7, 2013 11:27:31 PM Ignore CDMAuto Report Abuse $4.00 going for $5,00
crreed1 Champion Author West Virginia Posts:2,100 Points:2,550,715 Joined:May 2005	Message Posted: Mar 7, 2013 11:24:43 PM Ignore crreed1 Report Abuse sounds good
lesndave Champion Author Texas Posts:3,173 Points:728,630 Joined:May 2011	Message Posted: Mar 7, 2013 11:22:48 PM Ignore lesndave Report Abuse Yeah!!!
JasTheAce Champion Author Raleigh Posts:1,110 Points:200,035 Joined:Nov 2012	Message Posted: Mar 7, 2013 11:22:06 PM Ignore JasTheAce Report Abuse great
jkpsr Champion Author New Jersey Posts:4,207 Points:1,127,915 Joined:Jun 2005	Message Posted: Mar 7, 2013 11:20:43 PM Ignore jkpsr Report Abuse More good news.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Mar 7, 2013 11:20:27 PM Ignore tedjm1 Report Abuse Okay!
bston Champion Author Oklahoma City Posts:1,955 Points:669,990 Joined:Mar 2011	Message Posted: Mar 7, 2013 11:17:47 PM Ignore bston Report Abuse Moving in the right direction for U.S.
Glock26 Champion Author Dayton Posts:1,654 Points:658,135 Joined:Mar 2011	Message Posted: Mar 7, 2013 11:17:14 PM Ignore Glock26 Report Abuse And the prices will be thru the roof by then!!!
BALRSTATUS All-Star Author Grand Rapids Posts:580 Points:119,450 Joined:Feb 2013	Message Posted: Mar 7, 2013 11:15:23 PM Ignore BALRSTATUS Report Abuse nice
10k Champion Author North Carolina Posts:21,485 Points:2,281,720 Joined:May 2006	Message Posted: Mar 7, 2013 11:14:41 PM Ignore 10k Report Abuse the source of this story is enough to make ya wanna go "hmmmmmm.."..
TheSicilian Champion Author Jacksonville Posts:5,519 Points:1,497,450 Joined:Feb 2009	Message Posted: Mar 7, 2013 11:12:27 PM Ignore TheSicilian Report Abuse Lets be independent
mcbrownie220 Sophomore Author Toledo Posts:225 Points:174,325 Joined:Jun 2012	Message Posted: Mar 7, 2013 11:11:40 PM Ignore mcbrownie220 Report Abuse ok
pbalmeo All-Star Author Los Angeles Posts:978 Points:212,700 Joined:Aug 2011	Message Posted: Mar 7, 2013 11:10:45 PM Ignore pbalmeo Report Abuse Ok..
Blue_Cruzer Champion Author Lexington Posts:7,660 Points:1,697,285 Joined:Mar 2007	Message Posted: Mar 7, 2013 11:10:07 PM Ignore Blue_Cruzer Report Abuse Time will tell.
boatfloyd Champion Author Jacksonville Posts:1,858 Points:415,675 Joined:Mar 2012	Message Posted: Mar 7, 2013 11:09:23 PM Ignore boatfloyd Report Abuse The Oil State.
Tigercat88 Champion Author North Carolina Posts:3,337 Points:644,565 Joined:Jul 2011	Message Posted: Mar 7, 2013 11:09:01 PM Ignore Tigercat88 Report Abuse Drill Baby Drill. Build more refineries.
regout Champion Author Quebec Posts:3,095 Points:860,405 Joined:May 2010	Message Posted: Mar 7, 2013 11:08:31 PM Ignore regout Report Abuse Will it reduce the price at the pump.
ClassicWheeler All-Star Author Montgomery Posts:785 Points:336,125 Joined:Apr 2012	Message Posted: Mar 7, 2013 11:08:26 PM Ignore ClassicWheeler Report Abuse What a record. I've never heard of anything like that. A record on oil production that will be made in 7 years? Wow! I think we should ask Bloomberg who will win the Super Bowl in the next 7 years and just cancel the games. They know it all!
silverfox63 Champion Author Michigan Posts:8,247 Points:1,636,490 Joined:Oct 2008	Message Posted: Mar 7, 2013 11:08:03 PM Ignore silverfox63 Report Abuse Will never see cheap gas again.
unicornpmb Champion Author Buffalo Posts:8,631 Points:1,657,215 Joined:Sep 2005	Message Posted: Mar 7, 2013 11:07:25 PM Ignore unicornpmb Report Abuse Can't wait for cheaper gas.
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Mar 7, 2013 11:06:11 PM Ignore PrinceLH Report Abuse It's the bastards that own the refineries that are controlling the flow of crude. Time to make Oil companies divest all interests in refineries.
Chadgas Champion Author Missouri Posts:1,118 Points:2,201,950 Joined:Feb 2006	Message Posted: Mar 7, 2013 11:05:49 PM Ignore Chadgas Report Abuse Then we can get some of that cheap $10 a gal gas.
sawdust1825 All-Star Author Illinois Posts:985 Points:464,355 Joined:Sep 2011	Message Posted: Mar 7, 2013 11:05:19 PM Ignore sawdust1825 Report Abuse And gas prices will rise right along with crude production.
1fulltank Champion Author Buffalo Posts:8,041 Points:1,571,970 Joined:Nov 2008	Message Posted: Mar 7, 2013 11:05:14 PM Ignore 1fulltank Report Abuse ...or sooner.
Tsunamiron Champion Author Jacksonville Posts:1,569 Points:585,425 Joined:Mar 2011	Message Posted: Mar 7, 2013 11:03:39 PM Ignore Tsunamiron Report Abuse ... and gas prices will be over $6 per gallon by then.
jrschl Champion Author Louisville Posts:3,107 Points:708,465 Joined:Jun 2011	Message Posted: Mar 7, 2013 11:02:33 PM Ignore jrschl Report Abuse Exports of oil will be even higher.
roadrunnin Champion Author Richmond Posts:1,801 Points:582,030 Joined:May 2008	Message Posted: Mar 7, 2013 10:59:39 PM Ignore roadrunnin Report Abuse would be great if we would keep some of it
69Bonne Champion Author Gary Posts:1,256 Points:493,350 Joined:Sep 2005	Message Posted: Mar 7, 2013 10:57:24 PM Ignore 69Bonne Report Abuse Well, good. Maybe soon we will be oil dependent from our own crude. But will it lower prices? Not if we keep export gasoline and other oil products.....
prassu2012 All-Star Author Illinois Posts:810 Points:175,400 Joined:Dec 2012	Message Posted: Mar 7, 2013 10:57:13 PM Ignore prassu2012 Report Abuse good for texas
grt197 All-Star Author Illinois Posts:707 Points:152,290 Joined:Jan 2013	Message Posted: Mar 7, 2013 10:53:34 PM Ignore grt197 Report Abuse good but but very high prices
SparkieMi Champion Author Kalamazoo Posts:3,400 Points:615,595 Joined:Sep 2011	Message Posted: Mar 7, 2013 10:52:40 PM Ignore SparkieMi Report Abuse Great!!!! Now lower pump prices!!!!
Vette1967 Champion Author Albany Posts:6,107 Points:1,303,700 Joined:Jun 2009	Message Posted: Mar 7, 2013 10:49:14 PM Ignore Vette1967 Report Abuse It would mean more if we continue to use a little less too.
skybiker Champion Author South Carolina Posts:7,408 Points:1,586,615 Joined:Jul 2008	Message Posted: Mar 7, 2013 10:48:29 PM Ignore skybiker Report Abuse Good! Stick it to the OPEC...
yonasb Champion Author Houston Posts:3,463 Points:758,000 Joined:Apr 2011	Message Posted: Mar 7, 2013 10:47:25 PM Ignore yonasb Report Abuse love texas
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Mar 7, 2013 10:45:31 PM Ignore wayoung56 Report Abuse Hmmm...
ssperkin Champion Author Durham Posts:1,454 Points:780,795 Joined:Dec 2010	Message Posted: Mar 7, 2013 10:45:04 PM Ignore ssperkin Report Abuse Clearly hurting ;)
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Mar 7, 2013 10:44:59 PM Ignore OGW Report Abuse Oil, oil everywhere!
camel1 Champion Author Minnesota Posts:8,410 Points:2,294,315 Joined:Jul 2006	Message Posted: Mar 7, 2013 10:44:45 PM Ignore camel1 Report Abuse why so long