Business, Economics and Jobs

US positioned to become leading oil producer


In this handout image provided be the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the off shore oil rig Deepwater Horizon in the Gulf of Mexico on April 21, 2010 near New Orleans, Louisiana. An estimated 206 million gallons of crude oil have spilled into the gulf from accident. Multiple Coast Guard helicopters, planes and cutters responded to rescue the Deepwater Horizon's 126 person crew.


U.S. Coast Guard

After Hurricane Sandy hit, Bloomberg News wrote on its cover, "It's Global Warming, Stupid."

Yep, the United States is acknowledging that global warming is real. Now let's pat ourselves on the back and get back to producing more oil. 

The US is positioned to beat out Saudi Arabia as the world's top oil producer, Bloomberg News reported today.Overall, the US average daily output will climb 14 percent this year, the most in six decades, according to the Energy Department.

More from GlobalPost: When the BRICs Crumble 

We're number one! But what about the alternative energy we've been championing? There's still hope. A new study out of the University of Delaware and Delaware Technical Community College finds that by 2030, it would be possible to power 99.9 percent of a large power grid with solar and wind energy, KCET reported

“Aiming for 90 percent or more renewable energy in 2030, in order to achieve climate change targets of 80 to 90 percent reduction of the greenhouse gas carbon dioxide from the power sector, leads to economic savings,” the study authors wrote