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 ...
There is no such thing as “energy independence”. There is one giant world market for energy and we are energy interdependent. Now this production is good news because abundant worldwide supply is driving down prices. But if the ME blows up tomorrow we are screwed on prices. Not as bad as some in other parts of the world but our prices will sky rocket.
Next, need to free up coal and nuke and get rid of all alt energy subsidies. And the idiotic Logan Act, and build pipelines.
collection: blinging
I’m still not tired of all this winning!
“How’s that for energy independence? “
We are nowhere close to energy independence.
While we produce 12mil BBL, we consume 20mil BBL.
Those that crow about energy independence are ignorant, or lying.
What do you think of this? Fit this as an exhaust system at coal power plants. Save WV and WY jobs. Transport helps rail after all the crude pretty much pipelines now.
https://m.youtube.com/watch?v=XHX9pmQ6m_s
They, like the enemedia can only ignore it.
...12.16 million barrels of oil every 24 hours... up another quarter-million barrels a day from March and the third straight monthly increase... breakeven cost for developing new shale wells in Texas, for instance, has fallen $2 a barrel to a recent low of $50 per barrel... Energy groups and federal officials project U.S. crude oil output will exceed 13 million barrels a day by year’s end... 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... Monthly gross natural gas production (in the lower 48 states) also rose to a fresh new record high...
Thanks Hojczyk.
https://www.eia.gov/tools/faqs/faq.php?id=32&t=6
Reconcile with this. These are 2018 numbers. 2019 will be lower. This is the transition year. 2020 will probably show every month we next export.
“Please introduce me to those who aren’t.”
Every single male teenager. (at least until they have kids)
Are you kidding? Do you think “Global Warming” is anything other than a device to turn fuel production into a negative?
I’m shocked that the commies haven’t thrown a fit on how this will gravely endanger the environment and now the world is going to end in 10 years instead of 11.55!
And that’s without NY Gov Cuomo allowing the state to tap/frack into the massive gas North of the PA border.
While we produce 12mil BBL, we consume 20mil BBL.
How much does Canada export?The situation radically differs from when we thought we had to have an Emergency Petroleum Reserve. You have to admit that.
I wouldn’t be surprized to learn Kim’s big smile and praises for Trump are the results of the rice we will sell him.
Wait one darn minute. The Media said that Obama did this after POTUS Trump mentioned it at his Reelection Rally.
Youngest son is working in the oil patch in North Dakota. They are working around the clock there. He was there once before, during the Bakken booom, and is back again, further south and west, this time. Pay is very good. Every day he spends at a rig on “location,” is a $300 day, over and above his regular pay. Never mind the climate. (North Slope with warm summers...)
There is no such thing as “energy independence”
Since we do not produce the 20 million+ bbls per day. Yes, we are not “independent”.
All I have to do is try to travel down I-20 and not be run down by an oil truck of some kind to know that West Texas IS oil country!
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