Posted on 07/22/2018 11:18:03 AM PDT by Hojczyk
The American Petroleum Institute (API) released its monthly statistical report on Thursday, revealing the highest-ever production of U.S. crude oil and natural gas liquids in June. During that month, production of crude oil hit 10.7 million barrels per day (mb/d), and production of natural gas liquids hit 4.2 million barrels per day, .
“Record production of U.S. crude oil and natural gas liquids last month highlighted the strength of our nation’s energy renaissance,” Dean Foreman, API chief economist, said in the announcement of the report. “U.S. oil production has supplied all of the growth in global oil demand so far this year and helped compensate for production losses in some OPEC nations.”
“With continued increases in drilling activity, the U.S. is poised for further production increases in natural gas and oil,” Foreman said.
Breitbart News reported when Trump announced putting in place tariffs on steel and aluminum in March that they are designed to protect U.S. steel producers and bolster national security:
Actions by the administration mark the conclusion of a process that began last year when the president ordered the Commerce Department to examine the impact on national security of steel and aluminum imports. That inquiry called a Section 232 investigation after of the portion of the Trade Expansion Act of 1962 where it is authorized, concluded earlier this year with a recommendation that the administration impose sanctions to protect the industries.
Some other highlights from API’s June 2018 statistical report include:
•U.S. petroleum demand year-to-date at its strongest since 2007.
•Domestic refineries ran at their highest percent capacity utilization rate in June (96.6 percent) since 2005.
…
•Solid economic and energy market fundamentals also underpinned the strongest U.S. petroleum demand since 2007, at 20.6 mb/d.
The oil and natural gas industry supports 10.3 million U.S. jobs,
(Excerpt) Read more at breitbart.com ...
Yet we pay almost $3.00/gal. Bi whoop for nothing...
There is a severe shortage of engs and techs
But a major in sexual deviant promotion is so much more entertaining, especially the lab work.
They don't need to be concerned with their future. Uncle Sam will provide.
Petroleum demand highest since 2007.
Allow me to translate. The economy has FINALLY recovered from the Great Recession. Yes. Its taken this long. There was hardly any real recovery during the entire 8 years Obama was in office and was drowning business in a flood of new regulations.
And 0bama maintains his 1000 average of wrongness by saying you can’t just drill your way out of this.
We need more refineries to bring down the price of gasoline. Also get rid of the boutique blends.
I think we need a few “national security” refineries. Built on government land.
We have a friend’s daughter coming to stay with us soon. She has been hired by a major oil/gas company. Fresh out of college and coming here on a work visa.
Excellent idea.
Texas to pass Iraq and Iran as world’s No. 3 oil powerhouse.
Link: http://www.kitv.com/story/38665685/texas-to-pass-iraq-and-iran-as-worlds-no-3-oil-powerhouse
Expiration of long term contracts forged back when NG was at rock bottom?
Natural gas prices are very low and have been for a long time.
Where is she from?
Colombia. Very nice kid. She will do well.
True.
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