EIA sees rising U.S. crude oil production

WASHINGTON, Jan. 24 (UPI) -- Domestic crude oil production in the United States in the next 10 years is expected to reach levels not seen since the 1990s, the EIA predicted.

The U.S. Energy Information Administration in its annual energy outlook for 2012 predicted domestic crude oil production would grow more than 20 percent during the next decade.

Last week, U.S. Rep. Doc Hastings, R-Wash., chairman of the House Committee on Natural Resources, stated that oil and natural gas production on federal lands was down more than 40 percent compared to the early part of the century.

Howard Gruenspecht, acting administrator at the EIA, said projections indicate domestic crude oil production is increasing while reliance on imported oil is decreasing.

"These projections reflect increased energy efficiency throughout the economy, updated assessments of energy technologies and domestic energy resources, the influence of evolving consumer preferences and projected slow economic growth," he said.

The EIA determined that domestic crude oil production increased from 5.1 million barrels per day in 2007 to 5.5 million bpd in 2010. Production of so-called tight oil and further development of oil deposits in the Gulf of Mexico are expected to bring domestic crude oil production in the United States to 6.7 million bpd by 2020, a level not seen since 1994, the EIA said.