Colorado Energy News – July 12
An industry group predicts that by 2020 the West will produce more energy than the United States imports from Saudi Arabia and seven other oil-producing nations.
However, the report tempers that optimistic prediction with the view that energy production could be jeopardized by current and future federal government policies.
The Blueprint for Western Energy Prosperity was prepared for the Western Energy Alliance industry group by EIS Solutions, with data analysis by ICF International.
It says that within nine years the combined energy production would exceed total U.S. imports from Iraq, Saudi Arabia, Kuwait, Algeria, Nigeria, Russia, Venezuela and Columbia.
According to the report, the West is on track to produce 1.3 million barrels of domestic oil and condensate a day by 2020, and has the potential to produce 6.2 trillion cubic feet of natural gas annually, up 1 trillion cubic feet from 2010.
Commentary: This article suggests that the Niobrara Shale could produce 286,000 bbl/day of oil by 2020. This would imply that the current leasing and drilling programs underway will be successful. If you believe in peak oil, then you might conclude that the production from the Niobrara Shale and similar formations is essential to replace the declining production from Saudia Arabia and other oil producing nations.