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The U.S. is poised to become the world's top oil-produc... The U.S. is poised to become the world's top oil-producing country next year, according to estimates. (Flickr).
Saudi Arabia is the world's top producer of oil, extracting approximately 11.6 million barrels every day. The oil takes care of approximately two-thirds of the kingdom's own energy needs and is the lynchpin of the country's lucrative exports.

So how is the oil-rich country planning for its energy needs in the future? By focusing on renewable energy.

Earlier this week, Prince Turki Al Faisal Al Saud, a top spokesperson for Saudi Arabia, said that Saudi Arabia intends to generate 100 percent of its power from renewable sources, such as nuclear, solar, and low-carbon energies.

"Oil is more precious for us underground than as a fuel source," said the prince, whose country holds approximately 20 percent of the world's oil reserves, according to the International Energy Agency. "If we can get to the point where we can replace fossil fuels and use oil to produce other products that are useful, that would be very good for the world."

In related news, the U.S. is giving Saudi Arabia a run for the title of world's top oil-producing country, a boom that has left many experts surprised.

U.S. production of oil is on pace to rise 7 percent this year to a daily average of 10.9 million barrels. The Energy Department forecasts that production will continue its rise and average 11.4 million barrels per day in 2013.

"Five years ago, if I or anyone had predicted today's production growth, people who have thought we were crazy," Jim Burkhard, the head of joil markets research at IHS CERA tells The Huffington Post.

Should the projections hold, the U.S. will supplant Russia as the world's second-largest oil producer. Here's a look at the world's top oil-producing countries, according to Central Intelligence Agency statistics:

1. Saudi Arabia 11.6 million barrels per day
2. United States 10.9 million barrels per day
3. Russia 10.3 million
4. Iran 4.2 million (estimated)
5. China 4 million

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    • 1 Second Ago
      • 2 Years Ago
      If America is the second largest producer of oil, why are we play so much for gas? In CA. regular over $4:00 per gas. I thought this gas situation was because of the Middle East, but our gas situation is because of the rich Americans who control the fuel oil gas are messing with the average folks by these outrageous cost for gas. When is enough enough? The production of oil in this country should be nationalized. I feel bad for all of us,because we all are being taken advantage of by the oil companies here in America.
      • 2 Years Ago
      I agree and the free market is the way to get renewables online. Obviously, Obama and his administration has no clue how to pick winners. The free market and business will decide the best way to make renewable energy possible. With the middle east in turmoil, in the meantime, we need to use every available energy source in the USA to put distance between us and them. We need nothing from them except oil and a stable oil market. As that erodes, we need to be enrgy independent today.
      • 2 Years Ago
      Hey! They have to run out of oil sometime...maybe they are coming close to it and have to think about the future? But I can tell you one thing...When Romney becomes President we will not need any of their oil and we will become self sufficient and won't need their oil anyway!
      • 2 Years Ago
      I still paid $4.21 per gallon this am..
      • 2 Years Ago
      Good for the Prince. He gets it
      • 2 Years Ago
      I think they doing this because they are running out of oil !!!!!
      • 2 Years Ago
      So does that mean oil will go up since they will not be focused so much on it and stop producing as much??
      • 2 Years Ago
      Even the Saudi's know that oil is not going to be around forever so get positioned with renewable. While the U.S. GOP keeeps trying to make the clock stand still. chasing a buck will make many a man a dumb f*uck.
      dm pilkinton
      • 2 Years Ago
      These Mother Fuc?ers will say or do anything right now after the third debate to get Obama their brother Muslim re-elected. Only problem is it may be to little to late.
      • 2 Years Ago
      It take time to develope green and not just say we are going 100% green like this admin has been doing.
      • 2 Years Ago
      romney will straighten them out while while he sends soc to hell with his luciferian (part twin )of his belief.
      • 2 Years Ago
      Polarity only worries those affected. : I
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