Geophysical advances have contributed to the identification of a
"relatively boundless supply" of oil and gas worldwide, Barry
Smitherman, chairman, Texas Railroad Commission (RRC), told the Society
of Exploration Geophysicists annual meeting Sept. 23.
Texas oil production alone, 1.76 million b/d in the first 6 months of
2013, would rank third behind 2.9 million b/d of imports to the US from
Canada and 2.2 million b/d of imports from the Persian Gulf, Smitherman
said. Imports from Saudi Arabia would rank fourth.
Including natural gas liquids, Texas is producing well above 2 million
b/d of petroleum liquids and could double the figure by 2020 and triple
it by 2025...
READ MORE: http://www.ogj.com/articles/print/volume-111/issue-9d/general-interest/world-hydrocarbon-supply-relatively-boundless.html
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