By Chris HaskinsPosted May 08, 2016 10:25:02As part of our efforts to bring you the latest news and analysis, The American Conservatives is partnering with the Associated Press to provide a daily roundup of energy and climate news.
This week, we are covering the state of the world’s oil production and the effects of climate change on the U.S. economy.
As of May 11, the United States produced 8.3 million barrels of crude oil.
That’s the equivalent of 2.3 trillion gallons.
That figure includes 1.7 billion barrels of natural gas, the biggest single source of American oil production.
The country produces less than 1.5 million barrels a day of natural-gas-related liquids and other products.
We estimate that U. S. oil production will rise to 9.6 million barrels by 2020.
That would be about 2.6 trillion gallons, or nearly 7 percent of the U:S.
total oil production that year.
The world is producing about 1.2 billion barrels a year.
We expect to produce at least 3.5 billion barrels annually by the end of the century.
The American Petroleum Institute estimates that the United Kingdom, Canada, France, Germany, Italy, Japan and the Netherlands are on track to produce more than 1 trillion barrels of oil by 2040.
That puts them on track for roughly 2.2 trillion gallons of oil.
In other words, it will take the United Nations, the European Union and China to provide that much oil, which is more than enough to satisfy U.N. emissions goals.
Oil production is the primary source of energy for many countries, including China, Russia, India, Brazil, and Mexico.
The United States is not on the path to becoming energy-independent.
It will take a big leap to become the second-largest energy producer in the world by 2030.
The Keystone XL pipeline is the only oil-producing pipeline that could bring oil from Canada to the Gulf Coast.
But the pipeline, which would run through Montana and Nebraska, would be a major energy project that would not benefit the environment.
The project has not been approved by the State Department and has faced delays.
As a result, the State Dept. has warned that it is unlikely to move forward with Keystone XL, and some environmentalists fear it will create a climate catastrophe.
There are also environmental concerns with the pipeline.
Keystone XL would cross an area that has seen record levels of oil spills in recent years.
It is also being opposed by Native Americans, who say the pipeline could harm the environment, and many others.
The Energy Information Administration projects that by 2030, the world will be producing 4.6 billion barrels.
That will bring the world total oil consumption to about 9.7 trillion gallons by 2030.
The U.K. is on track by 2030 to be the world leader in oil production, according to BP Statistical Review of World Energy.
It has more than 3.7 million barrels per day of crude, or about 1,700 barrels per million people.
The Netherlands, which has the largest oil reserves in Europe, has more oil reserves than any other country in the European region.
That country is on pace to have a total of 1.8 trillion barrels by 2030 — about 9 percent of world oil production — which is about half of what the United Arab Emirates is producing.
By 2030, Russia will have more than 2 trillion barrels under its belt.
Russia has the world number one crude-oil reserves, according the Energy Information Agency.
Its total reserves are estimated at 2.9 trillion barrels.
By 2040, the country will have a crude-energy equivalent of about 2,800 million barrels.
China has already surpassed the United Sates total oil reserves by 2030 with a total energy equivalent of nearly 3 trillion barrels, according BP Statistical Reviews of World Oil and Gas.
The United States will not surpass its total oil-and-gas reserves by 2035, BP estimates.
But it will be the third-largest producer in 2030 and a leader in a global energy market that includes India, China, and the European energy markets.
It also has the second largest reserves of natural resources, including oil and natural gas.
By the end the century, the global energy supply will be about 1 trillion tons of petroleum, or almost 2 percent of global petroleum reserves, which will be enough to power more than 70 percent of all cars, and almost all airplanes.
That is roughly a fifth of the energy consumed in the United State, according Toppled World, a research institute.
The U. K. will consume about 1 percent of that.