In 2013, the United States consumed a total of 6.89 billion barrels of petroleum products, an average of 18.89 million barrels per day.1 This total includes about 0.32 billion barrels of biofuels.
USA imports 40% of its petroleum.
Shale oil pumps around 3million barrels of oil a day ,using the fracking method of extraction
Shale oil pumps around 3million barrels of oil a day ,using the fracking method of extraction
Earlier this year the U.S. Energy Information Agency (EIA) also forecast a plateau in U.S. oil production after 2020.
The basis for these forecasts are estimates of shale oil reserves. A 2013 Energy Department report on technically recoverable shale oil—the amount that's recoverable without regard to cost—puts U.S. potential at 58 billion barrels. That's equivalent to a little more than eight years of U.S. consumption at the current rate of almost 19 million barrels a day.
The Energy Department's estimate of "proved reserves" of shale oil—those that can be recovered economically today—is only about ten billion barrels. That's about a sixth of technically recoverable reserves, and less than a year and a half's worth of current consumption. Proved reserves include all currently known U.S. oil shale resources-North Dakota Bakken, Texas Eagle Ford, Colorado and Nebraska Niobrara, Texas Barnett, and others.
In contrast, the proved reserves from just three Middle East nations—Saudi Arabia, Kuwait, and the United Arab Emirates—total more than 460 billion barrels. That's 46 times U.S. shale oil reserves, and more than 12 times the total U.S. oil reserves.
Those estimates help explain why the IEA projects
Biggest oil exporters wikipedia stats
Biggest oil consumers wikipedia stats