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U.S. Seen as Biggest Oil Producer
After Overtaking Saudi Arabia

Bloomberg, by Grant Smith

Original Article

Posted By:Pluperfect, 7/6/2014 5:09:47 AM

The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said. U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. The International Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids. “The

      


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Reply 1 - Posted by: geo11, 7/6/2014 5:24:10 AM     (No. 9912488)

Despite Obama´s attempt to block every fossil fuel production. The Chinese are now in partnership with Canada on the Keystone Pipeline. Obama squandered hundreds of million tax dollars on solar energy that enriched his donors.

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Reply 2 - Posted by: Spidey, 7/6/2014 5:56:03 AM     (No. 9912505)

Just wait to see what happens if Russia gets off their ass and starts modernizing equipment and techniques for extracting oil and gas.They´re saying they´re sitting on $10 trillion dollars worth at least.

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Reply 3 - Posted by: 3XALADY, 7/6/2014 7:18:19 AM     (No. 9912542)

If we´re just rolling in oil, why is gas $3.56 down on the corner?

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Reply 4 - Posted by: MOBeef4u, 7/6/2014 7:52:08 AM     (No. 9912583)

Gas prices are influenced by world markets. My questions is are we producing on federal land which, if I remember, was actually down by something like nine percent a year or two ago. The boom is from private and state lands. Haven´t heard anything about federal land production.

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Reply 5 - Posted by: Pinchem, 7/6/2014 8:14:24 AM     (No. 9912607)

Gas here jumped 11 cents overnight to $3.64. Then it dawned on me, the long 4th of July weekend was coming.

I notice that before every holiday gas jumps up in price, usually 10 to 12 cents per gallon. Then a week or so after the holiday the gas price drops again. What is funny is that this also happens right before Kentucky Derby week, yet we are 60 miles from the nearest interstate. I don´t think that many people from here would be driving crooked highways to attend anyway. But then the gas folks must be liberals since they obviously have no clue to what logic and common sense means.

If the gas industry is as claimed in this article, then we should be paying half the amount for gas these days. Can´t they figure out that if gas was much cheaper people would be driving a lot more, taking vacations further away from home? Nahhh, that is too intelligent for liberal folks.


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Reply 6 - Posted by: steelbreeze, 7/6/2014 8:20:01 AM     (No. 9912611)

Want to know why gas is so high look to taxes and the EPA

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Reply 7 - Posted by: JHBoatwright, 7/6/2014 9:57:51 AM     (No. 9912700)

Then why does our cost for Gasoline rise per gallon about every week?
If our cost per gallon was about $00.15 watch the increase in productivity in America!!!

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Reply 8 - Posted by: enuf8, 7/6/2014 1:19:59 PM     (No. 9912903)

EPA regs and permits for new refineries for oil to turn into gasoline is also a cause for higher prices. Now obama wants a gigantic increase in Fed. taxes on gasoline because the highway maintenance trust fund is almost depleted. I supposed he has used those funds for his muslim brotherhood/greenies like they did with Social Security.

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Reply 9 - Posted by: PI65, 7/6/2014 1:38:23 PM     (No. 9912916)

Gas prices are determined by the world market, not the US. Think about this. Why would oil companies want to build more refineries? It´s called supply and demand.

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B-G1


 
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R_DBL_B
  


 
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