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So the US produces 11 mbpd (million barrels per day) of liquids (oil, gas2liquids, ethanol, biodiesel). However it consumes about 19 mpbd [0]. Unfortunately this is just a bleep because more expensive prices have made fracking (a 30 - 20 year old technology) economical, but the typical decline rates of these fields are extremely high (produces loads the first year, dies out very very quickly thereafter) [1]. In the longer view (5 - 10 yrs) it's a bump in a long,unstoppable and ever more expensive decline [2].

[0] http://www.eia.gov/forecasts/steo/report/us_oil.cfm

[1] http://www.theoildrum.com/node/9506

[2] http://ourfiniteworld.com/2013/10/02/our-oil-problems-are-no...



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