here is a chart through 2016...on historical production and price........
U.S. Crude Oil Production - Historical Chart
I believe we are at top oil production and # 2 behind russia.....
also the price for oil settles normally around 40-50$......
with 8-10 year spikes in the 1970s and 2004-2012
with the oil structure already set up for fracking and oil pipelines we are in good shape....
When you are fracking wells at almost 99% chance of hitting oil and getting 10-20 times as much oil per well...we are looking good.......
Everyone thought that we were in for another bust in Texas with oil going down to 50$
while this did happen to some extent oil production has not really slowed........
The reports I am hearing is that fracking costs about 20% of what it used to cost 10 years ago............
trump signed the canadian oil pipeline keystone...which will help
The only thing that could change our oil production is a severe drop in price down to 30$....but I dont see that happening as a long term trend
This could increase if oil climbs to 70+$per barrel...but i dont see this happening either.
we are currently adding 1million bpd for the last 4 years....
if this trend continues we will be completely oil independent in 5-10 years and will be an exporter of oil as russia and arabia are now........
that would be going from 9 million bpd up to around 13 milion bpd...
we consume 18 million but mexico and canada produce around 5 million....
so in reaity we could be N America only at around 12 million...
that is easily achievable in a few years......
no more arabian oil!!!!!!
yes we need alternative resources for gasoline deisel powered cars and trucks....
but I dont see any major breakthroughs here either......
Natural gas vehicles have severe costs and infrastructure for fueling....
and then yoyu have explosive gas...if you have ever lit a propane burner you know...
and electric cars have been around since the 1880s as Edison and Ford were both working on electic cars around 1900..........
also electric cars cannot get passed the limitations of distance and time to refuel....
i just dont see them recharging a car in 5 minutes.....
I get impatient at the pump if it goes slow and takes over 2 minutes.....
you could go to FUEL CELL technology........
but this is years away ....and the costs of infrastructure is really high......
also I believe the stations cost around 1Million$ vs the 300,000$ for gas stations....
In short unless oil goes back to 100$ per barrel and gas goes up to 5$ i dont believe any of these alternative fuels are gonna be cost productive...
also if oil goes to 100$ pb then them ruffneckers in West Texas will git them oil wells fracked and pumping again.........