Production
From 1954 to 2007, federal offshore tracts produced 16,800,000,000 barrels (2.7×109 m3) of oil and 173,000,000,000,000 cubic feet (4,900 km3) of natural gas.
In 2007, federal offshore tracts produced 27% of the oil and 14% of the natural gas in the United States. Three of the top ten oil fields in the United States in terms of the proven remaining reserves were offshore in the Gulf of Mexico in 2007 (Mars-Ursa, Thunder Horse, and Atlantis). The oil production in the offshore area owned by the federal government reached 492,000,000 barrels (78,000,000 m3) in 2007, down from the record of 602,000,000 barrels (95,700,000 m3) produced in 2002. 2.86 TCF of offshore gas produced in 2007 was down from the high of 5.25 TCF produced in 1996.
Read more about this topic: Offshore Oil And Gas In The United States
Famous quotes containing the word production:
“In the production of the necessaries of life Nature is ready enough to assist man.”
—Henry David Thoreau (1817–1862)
“The heart of man ever finds a constant succession of passions, so that the destroying and pulling down of one proves generally to be nothing else but the production and the setting up of another.”
—François, Duc De La Rochefoucauld (1613–1680)
“It is part of the educator’s responsibility to see equally to two things: First, that the problem grows out of the conditions of the experience being had in the present, and that it is within the range of the capacity of students; and, secondly, that it is such that it arouses in the learner an active quest for information and for production of new ideas. The new facts and new ideas thus obtained become the ground for further experiences in which new problems are presented.”
—John Dewey (1859–1952)