Maybe Hubbert’s Peak isn’t the tallest mountain after all.
North American oil production will hit a new all-time high by 2016 given the current pace of drilling in the U.S. and Canada, according to a study released by an energy research firm this week.
U.S. oil production in areas like the Permian Basin, the Eagle Ford, Bakken and others will rise by a little over 2 million barrels per day between 2010 and 2016, according to data compiled by Bentek Energy, a Colorado firm that tracks energy infrastructure and production projects.
The data was unveiled at a forum on natural gas liquids hosted by Platts in Houston this week.
That production growth will be bumping up against pipeline capacity to move the crude to refineries and other users, said Rusty Braziel, Bentek’s vice president of sales and marketing.
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