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 ...
What could possibly go wrong?
Drilling for oil is and has always been a round the clock job and kudos to your son for being part of this important business for America! My hubby was a “tong man” when we met and he made good money even then.
“How much does Canada export? “
Canada supplies 43% of our 9.xmil BBL of imports.
Net energy exporter (crude, refined crude products), not just crude oil taken inot account.
https://www.eia.gov/tools/faqs/faq.php?id=727&t=6
We export 7 mil per day of crude, then add refined liquids. We are starting LNG exporting, may be in these numbers.
And this is but the beginning of the energy boom — wait till they start developing the Natural Gas Hydrate Industry with its almost unlimited supply of LNG.
Yessssssssss!
Did I miss a tweet from PDJT on this?
Large areas of California are not producing (that can).
Alaska also has large areas not producing oil (or open to exploration).
Both the Atlantic side of Florida and the Gulf side are not producing oil (or open to exploration).
In a time of National Emergency, I imagine the US might be able to ramp up production to 15 to 20 million barrels of oil... In World War II, the US outproduced Germany and Japan. The industrial might of the US plus the energy production spelled dome for Japan and Germany...
Global warming! Ra ra ra! Global warming! Sisboomba!
I have no dog in the energy source fight. I want my BTUs as cheap as possible and that scheme you link to is idiotic. $232/ton is the estimate and like all utopians schemes it is probably low and includes government incentives.
For comparison: High quality coal is $100/ton and when burned it emits almost 3X its carbon weight in CO2 emissions. So 1 ton of coal would cost $700 to clean up with that giant fan. Just what is that fan powered by? That fan is like ethanol it will use more in CO2 emitting power then it will remove. That sucking noise is US taxpayer dollars flowing int Bill Gate’s pockets.
Anyway, why would we want to remove the basis for all life on earth from the atmosphere? Higher CO2 levels are beneficial and CO2 is a very impotent greenhouse gas and what little impact it has is needed to offset the sun’s cooling.
Also remember the Earth is ultimately carbon neutral. Carbon is neither being created or destroyed just changing its form. The fact that their is so much plant based coal in the ground proves that the Earth was previously thriving on extremely high atmospheric level of CO2.
Further breakdown (reconciliation) here:
https://www.eia.gov/tools/faqs/faq.php?id=727&t=6
We are pretty much in a good position, particularly if we keep growing / don’t elect more whacko libs (pretty much one and the same thing.)
If one considers that much of our imports come from Mexico and Canada, OPEC is just about broken, and any of the supposed leverage (direct leverage, anyway) Saudi Arabia has over us is pretty much long gone.
The US imports 10mmb/d, exports 7.5mmb/d, produces 12mmb/d, and consumes 20mmb/d. Do you have a point to make?
Except for some anomalies the US pays the world market price. Because in the US there is no “we” as in “we have lots of oil”. Private companies and people own oil and are free to sell it to the highest bidder whether that is in the US or abroad.
Pretty much, I think I used the phrase “pretty much”, pretty much too much!
(That’s what I get for composing a reply in pretty much of a hurry!) :-)
Thank you President Trump - the choices you made to make us energy independent is what will keep us OUT OF WAR with Iran. God Bless you President Trump.
To elaborate on that EIA link, from another is the following from 2018:
“In 2018, U.S. total petroleum production averaged about 17.67 million barrels per day (mmb/d), which included
crude oil—10.95 mmb/d
natural gas liquids—4.35 mmb/d
biofuels and oxygenates—1.23 mmb/d
refinery processing gain—1.14 mmb/d”
Each well has the dirty crude piped from the ground into a treater which seperates the clean crude and natural gas liquids and dry natural gas from the waste production water. The EIA numbers may not include the dry natural gas in their numbers yet since LNG for export is just starting.
In 2018 10.95 million bbl per day of crude oil produced from US wells. Add NGL’s, biofuels, oxygenates for 17.67 million bbl per day equivalent for all hydrocarbon liquids before further processing. We consumed 20.54 million bbl equivalent per day, the difference coming from net imports.
In 2019 in April produced 12.5 mbbl/d and in Dec @ 13 mbbl/d which gets us closer to net imports of zero. In 2020 it is expected each month will be a net export.
Quietly? Trumps been tweeting about it for weeks!
It takes a while to “ramp” up production.
There isn’t a whole lot of extra room in the mid stream infrastructure.
Building infrastructure takes alot more time to develop than oil producing “up stream”.
Then there is the real elephant in the room. Manufacturing capability for the “parts” that this massive ramp up would need. It just doesn’t exist and would take a large amount of time to get in place and moving.
You think running a world war on two fronts eased difficult? It would be nothing in comparison to the amount of effort needed to accomplish this dream.
Then, if those were not enough of a stumbling block, there is the real big problem of Refining capacity/ capability.
There are Refineries that are not currently being used, however starting one back up, well let’s just say it would be an event.
A big one.
Real big.
Now if someone would find uses for all of the natural gas that rings the Gulf Coast, we would most certainly being sitting good
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