[bizaro86]

Originally Posted by macker

Saudi America is a term I lifted from Phillip Verleger......http://www.pkverlegerllc.com/ So yep......I meant what I said. With America having all this new oil it will impact things globally and locally......http://business.financialpost.com/20...ojects-report/ Add the Russian fields and horizontal completion and the term Peak Oil is laughable.

Ok, that's not exactly a standard usage, but fair enough. Currently the US is producing 6.2 mmboe/d, and importing 8.8 mmboe/d, according to the US EIA. http://205.254.135.7/oog/info/twip/twip_crude.html

Iran exports ~2.5 mmboe/d (http://www.indexmundi.com/iran/oil_exports.html) so for the US net exports to exceed Iran's they'd have to produce approximately 17.5 mmboe/d, or not quite triple their current production. I'm pretty sure that's not going to happen in the next 18 years, since that's pretty close to the total of what Russia and Saudi Arabia are currently producing.