In its first forecast of the nation’s energy position in 2015, the U.S. Energy Information Administration projected Tuesday that oil producers will increase production by about 750,000 barrels of oil per day in 2015. That’s a drop from an expected daily increase of 1.03 million barrels in 2014 and the growth of the past two years.
Falling oil prices could dampen the incentive for energy companies to produce as much crude in 2015
EIA expects strong crude oil production growth, primarily concentrated in the Bakken Eagle Ford, and Permian regions, continuing through 2015. Forecast production increases from an estimated 7.5 million bbl/d in 2013 to 8.5 million bbl/d in 2014 and 9.3 million bbl/d in 2015. The highest historical annual average U.S. production level was 9.6 million bbl/d in 1970.
The EIA’s projected daily production of 9.3 million barrels per day in 2015 comes close to levels in 1972.
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Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
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He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
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