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NEW YORK - U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 43,000 bpd to a record 4.024 million bpd in March. A shale revolution has helped boost the United States to the position of world's biggest crude oil producer, ahead of Saudi Arabia and Russia. Overall crude production...

U.S. oil production is anticipated to break records in the next two years — and prices are primed to increase slightly, according to an energy study released Tuesday. The Energy Information Administration (EIA) said Tuesday that crude oil production is expected to rise to an average of 12.4 million barrels a day in 2019 and 13.2 million barrels per day in 2020. That’s up from January’s average of 12 million barrels a day and December’s 90,000 barrels a day. The expected increases will come from the Permian region of Texas and New Mexico, according to EIA. The U.S. last September...

London (CNN Business) America's push for oil and gas supremacy could lead to a "climate catastrophe," a new report has warned. The report by Oil Change International said that the United States is set to "unleash the world's largest burst" of carbon emissions from new oil and gas development if it goes ahead with its plans to expand drilling. "At precisely the time in which the world must begin rapidly decarbonizing to avoid runaway climate disaster, the United States is moving further and faster than any other country to expand oil and gas extraction," the report said.

The United States is expected to churn out far more oil in 2019 than what international analysts originally forecasted. The International Energy Agency, a Paris-based organization that helps coordinate energy policies for industrial countries, released its latest oil market report Friday, noting exceptional numbers for the U.S. fossil fuel industry. The agency reported U.S. oil production is expected to rise by 1.3 million barrels a day in 2019. While this number is lower than the record-smashing 2.1 million increase producers enjoyed in 2018, it’s more than double what the IEA initially expected to see in 2019. The forecast illustrates the...

The federal government has discovered a massive new reserve of oil and natural gas in Texas and New Mexico that it says has the “largest continuous oil and gas resource potential ever assessed.” “Christmas came a few weeks early this year,” Secretary of the Interior Ryan Zinke said of the new reserve, which is believed to have enough energy to fuel the U.S. for nearly seven years. In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids, the Interior Department’s U.S. Geological...

America turned into a net oil exporter the week of Nov. 26, breaking 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what President Donald Trump has branded as “energy independence.” The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania. U.S. crude shipments reached a record 3.2 million barrels the week of Nov. 26, government data...

WASHINGTON — The Trump administration on Thursday published documents detailing its plan to roll back Obama-era protections for the vast habitat of the greater sage grouse, a chickenlike bird that roams across nearly 11 million acres in 10 oil-rich Western states. The earlier proposal to protect the bird, whose waning numbers have brought it close to endangerment, was put forth under the Interior Department in 2015 and set out to ban or sharply reduce oil and gas drilling in 10.7 million acres of its habitat. The Trump plan, by contrast, would limit the grouse’s protected habitat to just 1.8 million...

Like the rooster that takes credit for the sunrise, President Barack “You Didn’t Build That” Obama woke up the other day and decided to take credit for another thing he had nothing to do with. The president who said that companies like Solyndra were the hallmark of a future in which workers drove Chevy Volts, predicted that manufacturing jobs of the past could not be brought back, not only took credit for an economy he didn’t build, but also for the energy boom he opposed which is fueling it. Back in 2012, geologist Barack Obama, poster child for the “peak...

Former Shell Oil President John Hofmeister is pouring cold water on former President Barack Obama’s claims that he’s responsible for the country’s boom in oil and gas production. Mr. Obama on Tuesday told the audience at a gala for Rice University’s Baker Institute that he deserved credit for the oil-and-gas boom that his successor, President Trump, is now enjoying. “You wouldn’t always know it, but it went up every year I was president,” the former president said to applause. “That whole — suddenly America’s like the biggest oil producer and the biggest gas — that was me, people.”

The downward spiral in oil prices is accelerating as a surge in crude production from a turbocharged U.S. petroleum industry runs into weaker global economic growth. A big reason why: the emergence of the U.S. oil industry as one of the world’s most important players. Ballooning shale production—American output has nearly doubled since the start of 2012—has made the U.S. a key supplier and exacerbated worries about a global glut of crude. The U.S. now exports more energy than it imports, by one measure. ...defying skeptics who previously warned OPEC’s grip on world markets had slipped thanks to U.S. shale.

(AP) – The United States is pumping record amounts of oil, vaulting over Russia to become the world’s biggest producer of crude. The Energy Information Administration said Thursday that the U.S. produced more than 11.3 million barrels a day in August, a 4 percent increase over the old record set in July. Russia’s energy ministry estimates that country pumped 11.2 million barrels a day in August. OPEC reports Saudi Arabia pumped 10.4 million barrels a day It’s the first time since 1973 that the U.S. leads the world in oil production. in August including Texas, which accounts for about 40...

President Trump chalked up his announcement on boosting ethanol for farmers in Iowa to his record of "promises made, promises kept," while speaking in Iowa Tuesday night. "I made that promise to you during the campaign," Trump said. "I made that promise to you during the primaries. Promises made, promises kept." "We're going with E15 year-round," Trump said early in his speech, admitting that the full announcement would come later in his remarks. The plan would relax Environmental Protection Agency rules that restrict the sale of 15-percent ethanol fuel blends to eight months of the year. The EPA waiver for...

President Donald Trump’s America First energy policy has catapulted the United States to the world’s largest global crude oil producer, according to the Energy Information Administration (EIA). EIA’s Short-Term Energy Outlook (STEO) report states preliminary estimates show the U.S. feasibly overtook Saudi Arabia and Russia to become the top crude oil producer earlier this year. The report notes U.S. crude production in February outstripped Saudi Arabia’s for the first time in over 20 years. Further, U.S. crude production in June exceeded Russia’s crude oil output for the first time since February of 1999. EIA data signals the U.S. will maintain...

The impending oil renaissance in Alaska’s North Slope is going to be even more massive than previously projected. The oil lurking under the surface of the historically oil rich region is enough to turn the state’s economy around and reinstate it as a major player in the oil industry, according to new research from IHS Markit, a London-based global information and analytics provider. The study shows that the North Slope’s crude output could increase by as much as a whopping 40 percent in the next eight years, more than regaining its place as one of the major powerhouses of the...

In terms of its effect on the lives of Americans, as well as the economy, the change of U.S. policy announced by the Trump administration last month to almost no media attention is a big deal. Ellen Knickmeyer of the Associated Press picked up on it belatedly: Conserving oil is no longer an economic imperative for the U.S., the Trump administration declares in a major new policy statement that threatens to undermine decades of government campaigns for gas-thrifty cars and other conservation programs.

Desperate times call for desperate measures. And for the cash-strapped Democratic National Committee, that means reversing a policy of not accepting money from people who are employed by fossil fuel companies. "We have to draw the line that we are indeed a party of a big tent where all working people are welcome," said DNC Chairman Tom Perez on Friday night. "We're not a party that punishes workers simply based on how they make ends meet." [Snip] Despite the DNC's change of heart and opening of wallets on fuel donations, Perez maintains that the party is committed to fighting climate...

... The event I refer to is the drilling of the first well which would use hydraulic fracturing to crack shale rock, thereby releasing the gas beneath the rock. Put differently, it was 20 years ago that “fracking” was born. ... The volumes of natural gas, natural gas liquids, and crude oil that this technique has uncovered all over the country have been unfathomable, and over the last decade alone has caused the United States to more than double their crude oil production on an absolute basis, and to surpass Russia and Saudi Arabia in production on a relative basis....

Rather than saving people money in gas costs, cleaning up the air, or dealing with the climate crisis, the Trump administration announced its plan to roll back automobile fuel efficiency standards -- proposing to freeze the policy in a few short years. Since cars and trucks are the largest source of carbon pollution in the United States, the existing regulations are crucial in the effort to stop the climate crisis. Limiting pollution for cars is also important for human health, because dirty air from cars is bad for all of us. We know the public will lose from this rollback....

An important provision of the tax cut legislation passed by Congress this week allows the American people to finally benefit from abundant petroleum resources that experts predict will be found in a very small area of the Arctic National Wildlife Refuge (ANWR) on Alaska’s northern coast. The legislation directs the Interior Department to hold at least two lease sales over the next 10 years, for a maximum of 2,000 acres opened to drilling. Analysts say the sales could fetch as much as $2.2 billion. ANWR is enormous – 19 million acres, about the size of South Carolina. The 2,000 acres...

A controversial proposal to build a massive underground pipeline to carry 700,000 barrels of crude oil per day from the oil sands of Alberta, Canada, to refineries in Texas has become the environmental issue of the summer, pitting developers and labor unions desperate for construction jobs against environmentalists and Native American tribes who fear the pipeline will spell environmental disaster. TransCanada Corp.'s proposed Keystone XL project would consist of more than 1,700 miles of 36-inch-diameter pipe, about 327 miles of which would be in Canada while the rest would snake southward through the central United States. Because the pipeline would...