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Quietly, The US Just Became The World’s Largest Oil Producer Rate Topic: -----

#1 User is offline   Liz 

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  Posted 01 July 2019 - 08:15 PM

Quietly, The US Just Became The World’s Largest Oil Producer

HotAir
Andrew Malcolm
Posted at 10:01 am on July 1, 2019

Excerpt:

Of course, it’s a summer holiday week. So, this good news somehow slipped by most media critics of this president.

But the latest government figures just showed that in April the United States produced a new record amount of oil per day — a stunning 12.16 million barrels of oil every 24 hours.

That’s up another quarter-million barrels a day from March and the third straight monthly increase, according to the U.S. Energy Information Administration.

Of more significant interest, the oil production jump makes the United States the world’s largest producer of oil, ahead of the usual slippery suspects like Saudi Arabia and Russia.

How’s that for energy independence?

And how can presidential debaters turn that into a negative?

Fracking technology is the biggest reason for the production increases.

Also, the breakeven cost for developing new shale wells in Texas, for instance, has fallen $2 a barrel to a recent low of $50 per barrel. The Federal Reserve Bank in Dallas recently painted a rosy picture for continued growth of the onshore shale oil industry.

Energy groups and federal officials project U.S. crude oil output will exceed 13 million barrels a day by year’s end.

Texas remains the largest oil production state with nearly five million barrels per day, up 11,000 over March. April production offshore in the Gulf of Mexico jumped 77,000 barrels a day to 1.98 million.

The agency also boosted its March production figure to 11.92 million barrels a day.

*snip*

Full Story
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#2 User is offline   Taggart Transcontinental 

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Posted 01 July 2019 - 08:45 PM

Oh no what about the climate crisis?!?!?! How will we ever destroy the US economy if we can't stop the US from producing energy? Is what every leftist candidate WOULD say if there was a microphone in the room when this news was put out there.
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#3 User is offline   oki 

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Posted 02 July 2019 - 07:42 AM

Notice that unlike in the past OIL PRICES DID NOT SKYROCKET when a pi$$ any country decided to start sh$t in the Middle East? Nice isn't it?

Oki
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#4 User is offline   Hieronymous 

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Posted 02 July 2019 - 08:22 AM

View PostTaggart Transcontinental, on 01 July 2019 - 08:45 PM, said:

Oh no what about the climate crisis?!?!?! How will we ever destroy the US economy if we can't stop the US from producing energy? Is what every leftist candidate WOULD say if there was a microphone in the room when this news was put out there.

All that oil didn't prevent California from enacting yet another gas tax, I think as of yesterday.
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#5 User is offline   Hieronymous 

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Posted 02 July 2019 - 08:24 AM

By the way, what ever happened to OPEC?
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#6 User is online   gregvega 

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Posted 02 July 2019 - 09:18 AM

Obama taking credit in 3 2 1
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#7 User is offline   Noclevermoniker 

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Posted 02 July 2019 - 09:59 PM

I’ll just say, you’re welcome, America.
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#8 User is offline   Tikk 

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Posted 03 July 2019 - 01:45 PM

View PostHieronymous, on 02 July 2019 - 08:24 AM, said:

By the way, what ever happened to OPEC?


Ask Venezuela, the country that founded OPEC.
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#9 User is offline   MTP Reggie 

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Posted 03 July 2019 - 01:50 PM

View PostHieronymous, on 02 July 2019 - 08:24 AM, said:

By the way, what ever happened to OPEC?


Never heard of them.

RIP.
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#10 User is offline   Diamond369 

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Posted 06 July 2019 - 07:12 AM

Somehow, I wish President Obama didn't make a ruling on the Pipeline that I personally did not agree with. Is there a link between this and the Pipeline, though I should know the answer?
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