This was confirmed by the Energy Information Administration. The EIA listed the U.S. as the top producer, with 18.61 million barrels per day, equivalent to 20% of the world supply.
Posted on 06/30/2022 6:05:21 AM PDT by daniel1212
The data shows that there were 4,082,478,000 barrels of crude oil produced in 2021, an amount that is greater than any time in American history, except 2020 and the peak in 2019.
Despite this drop from 2019's peak, the levels of production in 2021 were unmatched globally.
"The United States is the number one oil producer in the world," Weiner said. "We produce more oil and gas than any other country in the world."
This was confirmed by the Energy Information Administration. The EIA listed the U.S. as the top producer, with 18.61 million barrels per day, equivalent to 20% of the world supply.
- https://tradingeconomics.com/united-states/oil-exports
HOWEVER:
U.S. petroleum refining capacity falls to its lowest level since May 2016 [as of December 10, 2020]
As of September 1 (the latest data available), the United States had 18.4 million barrels per calendar day (b/cd) of petroleum refining capacity, also known as operable atmospheric crude oil distillation capacity. U.S. refining capacity had reached a record high of nearly 19.0 million b/cd earlier this year, but several refineries have closed since then, and capacity fell to the lowest level since May 2016. (https://www.eia.gov/todayinenergy/detail.php?id=46216)
US refining capacity falls to lowest mark in 8 years amid record prices [as of 21 Jun 2022]. The nation's capacity to refine crude oil into fuel and other products fell below 18 million b/d at the beginning of 2022 and hit its lowest level since 2014, according to the federal government's annual refinery capacity report released June 21.... The 2022 projection is the lowest since 17.92 million b/d in 2014, the EIA said. ... Some refineries have closed in recent years -- or are slated for conversion -- due to hurricane damages, pandemic impacts, high operations costs, the inability to complete sales, weaker future demand forecasts, or from conversions to produce more renewable fuels. The other fear is that a major storm hitting the US Gulf Coast could dramatically impact fuel supplies in an already tight marketplace.(https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/062122-us-refining-capacity-falls-to-lowest-mark-in-8-years-amid-record-prices-eia)
US Gulf Coast crude oil exports to touch record high this quarter...Exports to Europe are expected to average about 1.4 million (bpd) this quarter, about 30% higher than the year-ago quarter,Tight U.S. refining capacity also boosted exports, Rystad Energy analysts noted. The United States has lost nearly 1 million bpd of refining capacity since 2020..."The 1.53 million bpd of U.S. crude exports to Europe recorded in April is the second-highest reading on record," said Viktor Katona, co-head of crude analysis at Kpler. (https://www.reuters.com/business/energy/us-gulf-coast-crude-oil-exports-touch-record-high-this-quarter-2022-06-27/)
Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. Not all of those refineries have come back online. The U.S. had five fewer refineries at the beginning of this year that at the beginning of 2020. When the pandemic hit and demand for oil evaporated during the recession, refineries took a big financial hit when the price of gasoline plummeted. Some refiners threw in the towel. They said the numbers just didn't work, and closed up shop.
"When you're losing money on doing it, what do you do? You stop making it. And that's when you shut down refineries," says Denton Cinquegrana, chief oil analyst at Oil Price Information Service.
There were other disasters around the same time. A Philadelphia refinery, one of the largest in the country, was rocked by explosions a few months before the pandemic. In Louisiana, another refinery was wiped out by Hurricane Ida. Both have been shut down
Underpinning the decisions not to reopen refineries is the fact that the U.S. is undergoing an energy transition from fossil fuels to renewables. The Biden administration envisions a future where the world is powered by clean energy rather than oil with its destructive effect on the environment. [bod emp. mine] (https://www.npr.org/2022/06/26/1107265390/refinery-shortage-high-gas-prices-russia)
But people make choices, and judgment happens, and the word for the world to heed is the same as was told Israel of old:
Behold, the eyes of the Lord God are upon the sinful kingdom, and I will destroy it from off the face of the earth; saving that I will not utterly destroy the house of Jacob, saith the Lord. For, lo, I will command, and I will sift the house of Israel among all nations, like as corn is sifted in a sieve, yet shall not the least grain fall upon the earth. All the sinners of my people shall die by the sword, which say, The evil shall not overtake nor prevent us. (Amos 9:8-10)
No oil executive in his right mind would invest in long term refining with a government saying they are doing everything to put the industry out of business.
The watermelons need to be smashed.
This is a self-inflicted National Security threat .
No doubt 2019 was the BEST year.
Trump.
Without Covid, which was used to cheat Trump (and us) out of the presidency, this rise in production would have continued.
So I blame BIDEN and the ChiComs even more than I did before.
While The senior vice president and chief strategy officer at Exelon predicts there will be no new nuclear plants built in the United States. Because of the plants' size and security needs, the costs become prohibitive.
Only a decade ago, nuclear reactors were cash cows. But a combination of low natural gas prices and a boom in solar and wind power has rendered them unable to compete in states with price competition for power. Five of the country’s nuclear plants have shut down in the past decade. Of the remaining 99, at least a dozen more may close in the next. ...The average American operational nuclear plant is 37 years old. -https://theconversation.com/the-demise-of-us-nuclear-power-in-4-charts-98817
List of cancelled nuclear reactors in the United States..By the end of the 1970s it became clear that nuclear power would not grow nearly as dramatically as once believed. This was particularly galvanized by the Three Mile Island accident in 1979. Eventually, more than 120 reactor orders were ultimately cancelled[2] and the construction of new reactors ground to a halt. - https://en.wikipedia.org/wiki/List_of_cancelled_nuclear_reactors_in_the_United_States
Wait, I am sure I read here that Biden shut down production. You mean production actually started falling during the Trump administration?
Most of these numbers are inaccurate.
BP released the annual industry Bible of oil this week and it is possible the numbers derived from it. The source of error would be their definitions choice.
There is a profound difference between All Liquids and crude. It leads to misunderstandings. US C&C production is about 11.9 million barrels per day. This is down less than 1 mbpd from Trump years pre virus.
It of itself includes a parameter called refinery gain, which refers to the volumetric expansion of liquids during the refining process. It is over 1 mbpd and has nothing to do with more effective extraction from the ground. Furthermore, the US has more of this deceptive parameter than other countries because US consumption is so high that refining tends to be local — in contrast to the other major producers Russia and KSA, who ship crude and get little refinery gain inside their borders.
Lastly shale oil has a higher API density number, and has led to redefining crude to be API <50 rather than the old 45 threshold for crude vs condensate. Russia and KSA never did that.
So, it is way too easy to get things wrong about oil if you don’t understand details and prefer, rather, to embrace propaganda.
I read that also, however, I knew that was only partially true, and thus did investigation of my own, which as substantiated, reveals the real cause of high gas prices. Wnd why we must have a healthy skepticism about parroted claims on conservative sites, not just liberal ones with their censorship. Thank God we can examine both.
Yes, relatively|: "Despite this drop from 2019's peak, the levels of production in 2021 were unmatched globally." Covid-19 = less demand = less refining.
all the extra oil being released by the strategic reserve is just being shipped to India since we ended the law a few years back that prevented oil being sold elsewhere.
You made my “Today’s News” for tomorrow!
That’s un-possible. Jimmah Carter told me we were at “peak oil” in 1980.
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