As it turns out, US oil production since 1985 has been on the decline. As a matter of fact, we are drilling – here in the United States – about 37 percent less crude oil than in 1985. In fairness, production actually did hit a 30 year low in 2008 where field production was about 1.81 billion barrels and it’s climbed to just under 2 billion barrels in 2010. 2010 is the last full year available at the EIA website for that statistic.
