- Man shot by police ID'd; witness shares his side of story (2/17/17)31
- Panda Express restaurant coming to Cape's Siemers Drive (2/14/17)2
- Golden Corral nearing opening; soft open scheduled for Monday or Tuesday (2/12/17)8
- Settlement reached in accidental shooting case at Kelly High (2/15/17)10
- Jackson board votes to demolish high school building if bond issue passes (2/15/17)24
- Cape officer shoots man inside a home (2/16/17)7
- Southeast reports three confirmed cases of mumps; more cases possible (2/14/17)1
- Right to Work and Taxes (2/10/17)
- Man dies after being shot by officer; said to have come at cop with knife (2/16/17)29
- Former Cape cop indicted on possessing child porn (2/17/17)
U.S. may become world's top oil producer
NEW YORK -- Oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.
Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth consecutive year of crude increases and the biggest single-year gain since 1951.
The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year.
That would be a record for the U.S. and just below Saudi Arabia's output of 11.6 million barrels.
Citibank forecasts U.S. production could reach 13 million to 15 million barrels per day by 2020, helping to make North America "the new Middle East."
The last year the U.S. was the world's largest producer was 2002, after the Saudis drastically cut production because of low oil prices in the aftermath of 9/11.
The United States still will need to import oil in the years ahead. Americans use 18.7 million barrels per day. Along with better fuel efficiency of the nation's cars and trucks, imports could fall by half by the end of the decade.