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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:3,563 Points:1,920,875 Joined:Mar 2003	Message Posted: Mar 9, 2013 4:59:51 AM Ignore sydb7 Report Abuse This will be no help at the pump!
rjr54 Champion Author Winnipeg Posts:1,110 Points:394,395 Joined:Feb 2005	Message Posted: Mar 8, 2013 9:26:38 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 All-Star Author Colorado Posts:938 Points:346,655 Joined:Apr 2006	Message Posted: Mar 8, 2013 4:57:53 AM Ignore rrs517 Report Abuse Old, very old news.
tomok Champion Author Portland Posts:33,083 Points:2,348,435 Joined:Aug 2006	Message Posted: Mar 7, 2013 11:26:12 PM 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:1,892 Points:393,560 Joined:Jun 2005	Message Posted: Mar 7, 2013 10:35:44 PM Ignore jethro5000 Report Abuse Yesterday's news...
bcok Champion Author Los Angeles Posts:2,131 Points:1,545,470 Joined:Oct 2005	Message Posted: Mar 7, 2013 10:18:53 PM Ignore bcok Report Abuse ok
KrsnaDragon Champion Author Montreal Posts:2,422 Points:534,325 Joined:Nov 2011	Message Posted: Mar 7, 2013 9:50:24 PM Ignore KrsnaDragon Report Abuse Hmm...
MAC48 Champion Author Dallas Posts:1,551 Points:768,670 Joined:Dec 2006	Message Posted: Mar 7, 2013 9:47:55 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 Veteran Author Boston Posts:476 Points:155,800 Joined:Mar 2012	Message Posted: Mar 7, 2013 9:44:02 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:6,496 Points:2,104,940 Joined:Oct 2005	Message Posted: Mar 7, 2013 9:43:49 PM Ignore Zonk Report Abuse Sounds like things are going in the correct direction.
defiancegasman Champion Author Ohio Posts:7,080 Points:1,323,260 Joined:May 2006	Message Posted: Mar 7, 2013 9:38:47 PM Ignore defiancegasman Report Abuse OLD
pa79th Champion Author Pennsylvania Posts:1,797 Points:1,219,025 Joined:Jun 2007	Message Posted: Mar 7, 2013 9:32:13 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:3,806 Points:756,780 Joined:Apr 2011	Message Posted: Mar 7, 2013 9:27:31 PM Ignore CDMAuto Report Abuse $4.00 going for $5,00
crreed1 Champion Author West Virginia Posts:2,000 Points:2,529,260 Joined:May 2005	Message Posted: Mar 7, 2013 9:24:43 PM Ignore crreed1 Report Abuse sounds good
lesndave Champion Author Texas Posts:3,052 Points:704,080 Joined:May 2011	Message Posted: Mar 7, 2013 9:22:48 PM Ignore lesndave Report Abuse Yeah!!!
JasTheAce All-Star Author Raleigh Posts:985 Points:175,260 Joined:Nov 2012	Message Posted: Mar 7, 2013 9:22:06 PM Ignore JasTheAce Report Abuse great
jkpsr Champion Author New Jersey Posts:4,094 Points:1,104,830 Joined:Jun 2005	Message Posted: Mar 7, 2013 9:20:43 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 9:20:27 PM Ignore tedjm1 Report Abuse Okay!
bston Champion Author Oklahoma City Posts:1,830 Points:644,975 Joined:Mar 2011	Message Posted: Mar 7, 2013 9:17:47 PM Ignore bston Report Abuse Moving in the right direction for U.S.
Glock26 Champion Author Dayton Posts:1,539 Points:635,310 Joined:Mar 2011	Message Posted: Mar 7, 2013 9:17:14 PM Ignore Glock26 Report Abuse And the prices will be thru the roof by then!!!
BALRSTATUS Veteran Author Grand Rapids Posts:454 Points:94,675 Joined:Feb 2013	Message Posted: Mar 7, 2013 9:15:23 PM Ignore BALRSTATUS Report Abuse nice
10k Champion Author North Carolina Posts:21,275 Points:2,256,945 Joined:May 2006	Message Posted: Mar 7, 2013 9:14:41 PM Ignore 10k Report Abuse the source of this story is enough to make ya wanna go "hmmmmmm.."..
TheSicilian Champion Author Jacksonville Posts:5,394 Points:1,472,675 Joined:Feb 2009	Message Posted: Mar 7, 2013 9:12:27 PM Ignore TheSicilian Report Abuse Lets be independent
mcbrownie220 Sophomore Author Toledo Posts:225 Points:155,875 Joined:Jun 2012	Message Posted: Mar 7, 2013 9:11:40 PM Ignore mcbrownie220 Report Abuse ok
pbalmeo All-Star Author Los Angeles Posts:890 Points:188,840 Joined:Aug 2011	Message Posted: Mar 7, 2013 9:10:45 PM Ignore pbalmeo Report Abuse Ok..
Blue_Cruzer Champion Author Lexington Posts:7,535 Points:1,672,510 Joined:Mar 2007	Message Posted: Mar 7, 2013 9:10:07 PM Ignore Blue_Cruzer Report Abuse Time will tell.
boatfloyd Champion Author Jacksonville Posts:1,733 Points:390,900 Joined:Mar 2012	Message Posted: Mar 7, 2013 9:09:23 PM Ignore boatfloyd Report Abuse The Oil State.
Tigercat88 Champion Author North Carolina Posts:3,212 Points:619,790 Joined:Jul 2011	Message Posted: Mar 7, 2013 9:09:01 PM Ignore Tigercat88 Report Abuse Drill Baby Drill. Build more refineries.
regout Champion Author Quebec Posts:2,965 Points:834,655 Joined:May 2010	Message Posted: Mar 7, 2013 9:08:31 PM Ignore regout Report Abuse Will it reduce the price at the pump.
ClassicWheeler All-Star Author Montgomery Posts:665 Points:310,825 Joined:Apr 2012	Message Posted: Mar 7, 2013 9:08:26 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:8,130 Points:1,613,665 Joined:Oct 2008	Message Posted: Mar 7, 2013 9:08:03 PM Ignore silverfox63 Report Abuse Will never see cheap gas again.
unicornpmb Champion Author Buffalo Posts:8,501 Points:1,631,465 Joined:Sep 2005	Message Posted: Mar 7, 2013 9:07:25 PM Ignore unicornpmb Report Abuse Can't wait for cheaper gas.
PrinceLH Champion Author Ontario Posts:2,707 Points:540,970 Joined:Jun 2011	Message Posted: Mar 7, 2013 9:06:11 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 All-Star Author Missouri Posts:993 Points:2,177,625 Joined:Feb 2006	Message Posted: Mar 7, 2013 9:05:49 PM Ignore Chadgas Report Abuse Then we can get some of that cheap $10 a gal gas.
sawdust1825 All-Star Author Illinois Posts:852 Points:439,355 Joined:Sep 2011	Message Posted: Mar 7, 2013 9:05:19 PM Ignore sawdust1825 Report Abuse And gas prices will rise right along with crude production.
1fulltank Champion Author Buffalo Posts:7,918 Points:1,547,235 Joined:Nov 2008	Message Posted: Mar 7, 2013 9:05:14 PM Ignore 1fulltank Report Abuse ...or sooner.
Tsunamiron Champion Author Jacksonville Posts:1,439 Points:559,775 Joined:Mar 2011	Message Posted: Mar 7, 2013 9:03:39 PM Ignore Tsunamiron Report Abuse ... and gas prices will be over $6 per gallon by then.
jrschl Champion Author Louisville Posts:2,982 Points:683,990 Joined:Jun 2011	Message Posted: Mar 7, 2013 9:02:33 PM Ignore jrschl Report Abuse Exports of oil will be even higher.
roadrunnin Champion Author Richmond Posts:1,760 Points:566,955 Joined:May 2008	Message Posted: Mar 7, 2013 8:59:39 PM Ignore roadrunnin Report Abuse would be great if we would keep some of it
69Bonne Champion Author Gary Posts:1,165 Points:476,075 Joined:Sep 2005	Message Posted: Mar 7, 2013 8:57:24 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:691 Points:150,870 Joined:Dec 2012	Message Posted: Mar 7, 2013 8:57:13 PM Ignore prassu2012 Report Abuse good for texas
grt197 All-Star Author Illinois Posts:588 Points:128,510 Joined:Jan 2013	Message Posted: Mar 7, 2013 8:53:34 PM Ignore grt197 Report Abuse good but but very high prices
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Mar 7, 2013 8:52:40 PM Ignore SparkieMi Report Abuse Great!!!! Now lower pump prices!!!!
Vette1967 Champion Author Albany Posts:5,982 Points:1,278,925 Joined:Jun 2009	Message Posted: Mar 7, 2013 8:49:14 PM Ignore Vette1967 Report Abuse It would mean more if we continue to use a little less too.
skybiker Champion Author South Carolina Posts:7,313 Points:1,562,440 Joined:Jul 2008	Message Posted: Mar 7, 2013 8:48:29 PM Ignore skybiker Report Abuse Good! Stick it to the OPEC...
yonasb Champion Author Houston Posts:3,463 Points:739,875 Joined:Apr 2011	Message Posted: Mar 7, 2013 8:47:25 PM Ignore yonasb Report Abuse love texas
wayoung56 Champion Author Alabama Posts:2,815 Points:821,260 Joined:Oct 2006	Message Posted: Mar 7, 2013 8:45:31 PM Ignore wayoung56 Report Abuse Hmmm...
ssperkin Champion Author Durham Posts:1,454 Points:763,795 Joined:Dec 2010	Message Posted: Mar 7, 2013 8:45:04 PM Ignore ssperkin Report Abuse Clearly hurting ;)
OGW Champion Author London Posts:5,334 Points:1,534,725 Joined:Sep 2005	Message Posted: Mar 7, 2013 8:44:59 PM Ignore OGW Report Abuse Oil, oil everywhere!
camel1 Champion Author Minnesota Posts:8,280 Points:2,268,565 Joined:Jul 2006	Message Posted: Mar 7, 2013 8:44:45 PM Ignore camel1 Report Abuse why so long