U.S. Oil Production Gains 'One of the Biggest . . . the World Has Ever Seen'
But...but...Peak Oil!!
National Journal
August 2, 2014
Rising energy demand is generally seen as a sign of good things: People working harder and doing more.
Figures recently reported by BP in its 63rd annual Statistical Review of World Energy show that last year the U.S. saw strong growth in energy demand, a turnaround from the year before.
The report also showed that massive investments helped the U.S. achieve the world's largest increase in energy production last year -- and in turn, create thousands of new jobs across America.
"Indeed, the U.S. increase in 2013 was one of the biggest oil production increases the world has ever seen," wrote BP Group Chief Executive Bob Dudley.
Growth in energy demand in the U.S. has historically lagged behind developing nations, or non-OECD economies. This "energy gap" between the West and the East existed for much of the last decade, as demand in developing nations rose rapidly.
Last year, however, the momentum shifted. Manufacturing and job growth in the…
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