Posted on 07/01/2019 8:44:30 AM PDT by Hojczyk
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.
A barrel contains about 42 gallons of oil, which produce 20 gallons of gasoline and another 11 gallons of ultra-low sulfur distillate fuel oil, mainly diesel and heating oil.
What about natural gas? Same deal. Monthly gross natural gas production (in the lower 48 states) also rose to a fresh new record high
(Excerpt) Read more at hotair.com ...
I guess this is bad news for Democrats.
In their thinking, It will contribute to global warming and cause global catastrophe to occur earlier than predicted.
They will try to REVERSE this trend if they come into power.
Nope, still not tired.
But but but, Jimmy Carter said we had to freeze in the dark!
Have we reached ‘peak oil’ yet?................
If almost everybody is going to die, can it be tuned to affect women and minorities at the highest rate?
Hussein said we couldn’t drill our way to energy independence......before he tried to take credit for the fracking revolution.
Drill baby Drill!
PA votes for sure. I am betting there are many who are loving the gas sales to counter lower coal sales.
Best election, best POTUS, evah!
"Quietly" because most of the media only wants to cover OrangeManBad.
If almost everybody is going to die? LOL
Please introduce me to those who aren’t. I’m just funning with you
Shhhhhhhhhhhhhhhhhhhhhhhhhhhhh. Peek (sic) oil. Remember?
Producing it is one thing, refining it into products is another. Iran produced all the oil it could but had to import fuel for it’s transportation needs. Same too with Saudi Arabia. I big refinery in the east shut down really impacting lots of folks.
I thought nobody could ever top Reagan. I was wrong.
I too never believed we would see another Ronaldus Magnus in my lifetime.
I was wrong also. Much different style, but overall he has been much more effective.
It had to be quiet, otherwise Trump might look good. I hate our media.
Terrific news.
This is important for the US economy and everyone.
Thank you, President Trump.
I think this is one reason the Rats hate him so. A "rookie" with no government experience is turning the world upside-down. And only excellent results.
Yep!!!
In 1962, Hubbert predicted that world oil production would peak at a rate of 12.5 billion barrels per year, around the year 2000. In 1974, Hubbert predicted that peak oil would occur in 1995.
That doesn't stop the "peak oil" freaks from continuing to 'predict, using computer models' another peak oil disaster.
Does this science prediction sound familiar?
Old Guard: Use Twitter for diplomacy? NOOOOOOO IT IS HERESY!!!!
Kim: Rucky Rucky day. Don tweeted meet him at the border. He is bringing Big Macs.
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