Breitling Oil and Gas Morning Podcast #136 August 21th, 2012

Texas field production of crude oil is at 1.834 million barrels of oil per day in May, 2012.

Texas production is at oil production levels last seen in 1991.

I could paint a scenario for you where we are producing 3 million more barrels per day by 2016, which would almost get us to the point where we could eliminate 60 to 70 percent of our OPEC imports.  With that greater control over our own energy security , we could care less about what happens in the Strait of Hormuz” — the narrow mouth of the Persian Gulf that serves as a seaway for 22 percent of the world’s oil supply which threats of closure have run up oil prices in recent months by as much as 20%

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