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Expand chart
Data: Oil Change International and the Global Gas and Oil Network, with data from Rystad Energy; Chart: Danielle Alberti/Axios

America is poised to produce far more oil and natural gas over the next five years than any other country in the world, according to a new report.

Why it matters: It shows how America, already the world’s largest oil and gas producer, is poised to cement that position, with pivotal implications for geopolitics and climate change.

By the numbers: The United States could produce just over 24 billion barrels of oil equivalent over the next five years, according to a report by two advocacy groups, the Global Gas and Oil Network and Oil Change International, which analyzed projection data from research firm Rystad Energy.

  • This works out to be roughly 13.2 million barrels of oil equivalent per day, a figure that includes both oil and natural gas.
  • For context: The U.S. currently producing about 12 million barrels of oil a day.
  • Much of this growth is coming from the Permian Basin across West Texas and southeastern New Mexico, which the report says would account for nearly 40% of new U.S. oil and gas production in the next 30 years.

How it works: The accompanying chart, adapted from the groups’ report, is looking at projected production over this five-year time period from currently undeveloped reserves. This includes industry data, such as projects expected to receive final investment decisions.

The intrigue: The environmental groups released the report last week at the United Nations climate conference underway in Madrid, Spain.

  • The report concludes that carbon dioxide emissions from oil and gas in currently operating fields would push the world past the temperature rise limit — 1.5 degrees Celsius — that scientists say the world should stay under to avoid the worst impacts of a warming world.
  • “This is true even if global coal use were phased out overnight, and cement emissions were drastically reduced,” the report writes.

The other side: President Trump has often cited America’s plentiful oil and gas resources as evidence of the U.S.’s power in geopolitical debates, and he is likely to do so even more as production increases (if he wins a second term).

Go deeper:

Go deeper

Perfect storm brewing for extreme politicians

Data: Axios research; Table: Jacque Schrag/Axios

Redistricting and a flood of departing incumbents are paving the way for more extreme candidates in this year's midterm elections.

Driving the news: At least 19 House districts in 12 states are primed to attract such candidates — hard partisans running in strongly partisan districts — according to an Axios analysis of districts as measured by the Cook Political Report's Partisan Voter Index (PVI).

Updated 3 hours ago - Technology

3D printing's next act: big metal objects

Chief Scientist Andy Bayramian makes modifications to the laser system on Seurat's 3D metal printer. Photo courtesy of Seurat Technologies.

A new metal 3D printing technology could revolutionize the way large industrial products like planes and cars are made, reducing the cost and carbon footprint of mass manufacturing.

Why it matters: 3D printing — also called additive manufacturing — has been used since the 1980s to make small plastic parts and prototypes. Metal printing is newer, and the challenge has been figuring out how to make things like large car parts faster and cheaper than traditional methods.

Updated 4 hours ago - Technology

Mayors see cryptocurrency as a way to address income inequality

Illustration: Sarah Grillo/Axios

At the U.S. Conference of Mayors' meeting in D.C. this week, there's buzz around the idea of giving cryptocurrency accounts to low-income people.

Why it matters: Cities have been experimenting with newfangled ways to address income inequality — like guaranteed income programs — and the latest wave of trials could involve paying benefits or dividends in bitcoin, stablecoin or other digital currencies.

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