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An oil boom is under way in the United States. Since 2008 domestic oil production has increased dramatically, reversing what was a nearly three-decade decline. That has some predicting the U.S. could overtake Saudi Arabia as the world's largest petroleum producer in coming years.
In 2011 the U.S. produced 5.66 million barrels of crude oil a day, according to the Department of Energy's Energy Information Administration. By next year the agency projects that will increase 21 percent to 6.85 million barrels a day. Add in things like natural gas liquids, biofuels and processing gains at refineries and that number increases.
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