Via Kermit’s FB feed,
Texas to pass Iraq and Iran as world’s No. 3 oil powerhouse
The combined output of the Permian and Eagle Ford is expected to rise from just 2.5 million barrels per day in 2014 to 5.6 million barrels per day in 2019, according to HSBC. That means Texas will account for more than half of America’s total oil production.
By comparison, Iraq’s daily production is seen at about 4.8 million barrels, while Iran is projected to pump 3 million. Oil supplies from Iran are likely to plunge due to tough sanctions from the United States.
And we’re not energy dependent on dictatorships.
That’s something to celebrate.