US To Become The World's Biggest Oil Producer?

Not if Barack Hussein Obama has anything to say about it. Hopefully, as of January 21, 2013, he won't. I can only conclude that the folks making this forecast are assuming that Obama won't be re-elected.

Goldman Sachs made a prediction on Sunday, September 11, that the United States will become the world's largest oil producing country by 2017. This significant production boost will occur as a result of utilizing a new definition of oil and generous estimates for the amount of liquids-rich shale production that can occur, The Oil Drum reports.

The investment bank has claimed that the country's daily production of oil will grow from 8.3 million to 10.9 million barrels of oil per day (Mbopd) by the year 2017, according to the media outlet. This level of production would exceed both Saudi Arabia and Russia, which is currently the top oil producer.