5 charts that show the dramatic impact of the energy revolution
Carpe Diem has some great graphs that show how much the energy world has changed in the last five years – Five charts that help put “Saudi America’s” shale revolution into perspective.
1 – Weekly US crude oil production ’89 to ’13
Sort of like a reverse check mark – 17 year decline, 3 year trough, 4 year rapid acceleration that is approaching the level of 24 years ago. Very cool.
2 – Total petroleum production in US and Saudi Arabia, ’03 to ’13
In the last 4 1/2 years, oil production in US has taken off, passing production from Saudi Arabia late in 2012. The U.S. is producing more oil than Saudi Arabia. Astounding.
3 – US energy production as share of consumption
Producing less and less of what we use from ’85 through about ’08, then a rapid rise. We are producing about 90% of what we use at the end of the graph.
Check out the charts. Very, very cool.
Oh, and if you wondered why I keep talking about the foolishness of “Peak Oil”, commenter 2 repeats all the standard lines that this bounty will end tomorrow or next week. Peak Oil doctrine is alive and well.