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United States Becomes World's Number-One Oil Supplier
breitbart.com ^ | 10/17/2013 | William Bigelow

Posted on 10/17/2013 7:42:26 AM PDT by RoosterRedux

In a watershed moment for the United States, it has now surpassed Saudi Arabia as the world’s largest supplier of oil.

According to PIRA, an energy analysis firm, the skyrocketing oil output over the last four years is the most dizzying ascent since Saudi Arabia’s from 1970-1974. Since 2009, U.S. oil output has climbed 3.2 million barrels per day (bpd). The total includes natural gas liquids and biofuels.

The trigger for the huge expansion is the shale revolution, which has seen areas such as the Bakken in North Dakota and Eagle Ford in Texas lead the way as U.S. supplies jumped 1 million bpd in 2012 and repeated that jump in 2013.

(Excerpt) Read more at breitbart.com ...


TOPICS: News/Current Events; US: North Dakota; US: Texas
KEYWORDS:

1 posted on 10/17/2013 7:42:26 AM PDT by RoosterRedux
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To: RoosterRedux

praise God, we are out from under the devil’s oil


2 posted on 10/17/2013 7:43:05 AM PDT by yldstrk (My heroes have always been cowboys)
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To: yldstrk

3 posted on 10/17/2013 7:43:47 AM PDT by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: RoosterRedux

THEN WHY THE HELL ARE WE STILL PAYING OVER THREE $$ FOR A GALLON OF GAS?


4 posted on 10/17/2013 7:44:24 AM PDT by grobdriver
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To: RoosterRedux

Won’t mean much until we are the top refiner as well.

Exports are all well and good but they don’t necessarily reduce prices domestically since the supply/demand equation can’t be avoided.


5 posted on 10/17/2013 7:44:32 AM PDT by relictele ("An elective despotism was not the government we fought for..." - James Madison)
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To: RoosterRedux

I’m surprised B0 has not shown up here to take credit yet.


6 posted on 10/17/2013 7:44:52 AM PDT by Zuse
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To: yldstrk

“praise God, we are out from under the devil’s oil”

Yet we are still being overcharged and overtaxed on gasoline and diesel.
The federal rip off of the subservient masses continue. Suckers.......


7 posted on 10/17/2013 7:44:53 AM PDT by 9422WMR (: " Tolerance is the virtue of a man who has no convictions".)
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To: RoosterRedux

All due to Obama’s leadership, of course. At least he won’t hesitate to try and claim credit if it suits his purposes.


8 posted on 10/17/2013 7:46:46 AM PDT by Will88
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To: Zuse

He does take credit for it, I’ve heard him many times. What he doesn’t admit is that the production has taken place on private land as he has held back permits on Federal land.


9 posted on 10/17/2013 7:47:33 AM PDT by Rusty0604
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To: RoosterRedux

10 posted on 10/17/2013 7:50:34 AM PDT by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: grobdriver

The dollar is falling in value, you are lucky it is ONLY 3 bucks.


11 posted on 10/17/2013 7:51:28 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: grobdriver

Because prices are driven by the global market, not local supplies?


12 posted on 10/17/2013 8:00:47 AM PDT by Boogieman
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To: RoosterRedux

Imagine how the US economy would take off if we opened ANWAR and other off limits oil fields and built the Keystone pipeline.


13 posted on 10/17/2013 8:00:52 AM PDT by The Great RJ
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To: The Great RJ
Imagine how the US economy would take off if we opened ANWAR and other off limits oil fields and built the Keystone pipeline.

Or just threw Obama out of office in favor of a pro-American, pro-business president.

14 posted on 10/17/2013 8:02:21 AM PDT by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: RoosterRedux
The total includes natural gas liquids and biofuels.

So we are the number one oil producer if you pretend ethanol, ethane and propane are actually oil.

15 posted on 10/17/2013 8:11:48 AM PDT by thackney (life is fragile, handle with prayer)
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To: RoosterRedux

The choke point is refineries.


16 posted on 10/17/2013 8:16:47 AM PDT by Resolute Conservative
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To: Resolute Conservative

The US now refines more petroleum product than we use ourselves. We import more crude oil than we consume and export the surplus products for positive trade balance in the exchange.


17 posted on 10/17/2013 8:18:11 AM PDT by thackney (life is fragile, handle with prayer)
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To: grobdriver

Don’t worry, under the new fed deficit spending plan $3 will soon be worth $2.


18 posted on 10/17/2013 8:18:42 AM PDT by Justa
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To: RoosterRedux
I read somewhere that the Monterey shale play (in CA) dwarfs the others: estimated to be 4x the size of Bakken.

Since Governor Moonbeam and his minions believe we can power a modern economy on unicorn farts and Skittles, er wind and solar, I guess we'll have to wait until it's divided up between the People's Republic of Aztlan and the People's Republic of China before we see any significant production there.

19 posted on 10/17/2013 8:30:58 AM PDT by bassmaner (Hey commies: I am a white male, and I am guilty of NOTHING! Sell your 'white guilt' elsewhere.)
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To: grobdriver

Do you think it comes out of the ground for free? Just flows out like a river and then magically transforms into gasoline and shows up at the gas station? Given the amount of work that goes into transforming oil in the ground into gasoline that you can put in your car, I think the prices we are paying are quite reasonable.


20 posted on 10/17/2013 8:33:21 AM PDT by bigdaddy45
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To: RoosterRedux

let’s get those gasoline prices at the gas station down under $2.00!!!


21 posted on 10/17/2013 8:44:28 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: RoosterRedux

With this data, it is past time to walk away from the Middle East and let the Islamofascists kill each other.

That will create even more of demand for our oil as the Arabs kill each other and choke off their oil supply for Europe and other countries.


22 posted on 10/17/2013 8:45:15 AM PDT by Grampa Dave ( Boycott Reno & Las Vegas until those in control there, remove Reid from the senate!)
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To: thackney

Thanks for this interesting bit of reality:

“The US now refines more petroleum product than we use ourselves. We import more crude oil than we consume and export the surplus products for positive trade balance in the exchange.”


23 posted on 10/17/2013 8:47:37 AM PDT by Grampa Dave ( Boycott Reno & Las Vegas until those in control there, remove Reid from the senate!)
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To: bigdaddy45

Imagine what getting rid of the designer fuels and building another 2 refineries would do.


24 posted on 10/17/2013 8:48:40 AM PDT by EQAndyBuzz ("Senator Cruz basically made the Democrats fight for a whole bunch of things that they already had.")
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To: Boogieman

Indeed. There is no such thing “U.S. Oil” or even “energy independence”. The oil (or natural gas for that matter) does not belong to the U.S. It is sold on the open market globally.


25 posted on 10/17/2013 8:54:35 AM PDT by Wolfie
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To: RoosterRedux

and gasoline is still over $3.oo.

What gives?


26 posted on 10/17/2013 9:26:31 AM PDT by OpusatFR
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To: RoosterRedux

Now that the shutdown has ended, the epa will soon put a stop to that.


27 posted on 10/17/2013 9:41:21 AM PDT by lowbridge
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To: OpusatFR

The Crude Oil Supply varies with price. If prices were low, we would not being the increase in domestic supply.


28 posted on 10/17/2013 10:05:17 AM PDT by thackney (life is fragile, handle with prayer)
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To: grobdriver
WHY THE HELL ARE WE STILL PAYING OVER THREE $$ FOR A GALLON OF GAS?

How much should it be?

29 posted on 10/17/2013 10:07:22 AM PDT by nascarnation (Frequently wrong but rarely in doubt....)
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To: thackney

Thack you are a beacon of wisdom in an increasingly bizarre FR....


30 posted on 10/17/2013 10:08:18 AM PDT by nascarnation (Frequently wrong but rarely in doubt....)
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To: Will88

Baraq the Sultan of Frack....


31 posted on 10/17/2013 10:09:36 AM PDT by nascarnation (Frequently wrong but rarely in doubt....)
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To: nascarnation
we would not being the increase

And if I could type the actual words that run through my head instead of the gibberish that comes out, I could share that a little more often.

not be seeing the increase...

sigh....

32 posted on 10/17/2013 10:15:13 AM PDT by thackney (life is fragile, handle with prayer)
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To: nascarnation
How much should it be?

If we've increased the supply so dramatically, and if the demand is the same (can't see it going up as dramatically) seems the price should go down.

"Drill here, drill now" was apparently meaningless.

33 posted on 10/17/2013 10:15:15 AM PDT by grobdriver
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To: grobdriver

Demand in the US isn’t up, but demand worldwide is.
China continues to expand, and now is the biggest customer of the Persian Gulf oil.
Oil is a “fungible commodity” and is priced by world demand.

And there is a benefit to expensive gasoline, it helps keep poor people off the streets. “Outta my way, peons!”


34 posted on 10/17/2013 10:33:05 AM PDT by nascarnation (Frequently wrong but rarely in doubt....)
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To: EQAndyBuzz

I agree on the designer fuels, but what good would 2 more refineries do? Is there any indication we don’t have enough refinery capacity?

http://www.reuters.com/article/2013/04/15/column-campbell-idUSL2N0D20VD20130415


35 posted on 10/17/2013 10:38:11 AM PDT by bigdaddy45
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To: nascarnation; thackney

Agreed. Everybody wants a pony.


36 posted on 10/17/2013 10:43:37 AM PDT by bigdaddy45
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To: bassmaner

I read somewhere that the Monterey shale play (in CA) dwarfs the others: estimated to be 4x the size of Bakken.
............
I don’t think the Monterey shale play will ever come to anything. the formation is too fractured by faults to be fracked profitably.

The really big play is going to be in the Permian Basin in west texas. (this is very different from the eagle ford formation in south texas and much much bigger.)


37 posted on 10/17/2013 11:45:04 AM PDT by ckilmer ( e)
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To: Wolfie

Indeed. There is no such thing “U.S. Oil” or even “energy independence”. The oil (or natural gas for that matter) does not belong to the U.S. It is sold on the open market globally.
.....
yeah but oil produced in the USA directly affects the balance of trade.

The USA has been de-capitalized for decades by shipping 500 billion dollars annually over seas to pay for oil. That money will stay in the USA and circulate here. that’s a very big deal.


38 posted on 10/17/2013 11:47:37 AM PDT by ckilmer ( e)
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To: grobdriver
THEN WHY THE HELL ARE WE STILL PAYING OVER THREE $$ FOR A GALLON OF GAS?

No new refineries in umpteen years is why. Here locally in central Texas, there are a lot of places that have dropped below $3.00 for regular now.

39 posted on 10/17/2013 12:13:54 PM PDT by Arrowhead1952 (The Second Amendment is NOT about the right to hunt. It IS a right to shoot tyrants.)
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To: RoosterRedux
Some good news for the dollar.

5.56mm

40 posted on 10/17/2013 12:21:24 PM PDT by M Kehoe
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