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:
“The society based on production is only productive, not creative.”
—Albert Camus (1913–1960)
“By bourgeoisie is meant the class of modern capitalists, owners of the means of social production and employers of wage labor. By proletariat, the class of modern wage laborers who, having no means of production of their own, are reduced to selling their labor power in order to live.”
—Friedrich Engels (1820–1895)
“The production of obscurity in Paris compares to the production of motor cars in Detroit in the great period of American industry.”
—Ernest Gellner (b. 1925)