More jobs and WINNING.
Posted on 09/12/2018 8:36:18 AM PDT by Hojczyk
President Donald Trump’s America First energy policy has catapulted the United States to the world’s largest global crude oil producer, according to the Energy Information Administration (EIA).
EIA’s Short-Term Energy Outlook (STEO) report states preliminary estimates show the U.S. feasibly overtook Saudi Arabia and Russia to become the top crude oil producer earlier this year. The report notes U.S. crude production in February outstripped Saudi Arabia’s for the first time in over 20 years. Further, U.S. crude production in June exceeded Russia’s crude oil output for the first time since February of 1999.
EIA data signals the U.S. will maintain its position as the world’s largest global crude oil producer through 2019.
“U.S. crude oil production, particularly from light sweet crude oil grades, has rapidly increased since 2011. Much of the recent growth has occurred in areas such as the Permian region in eastern Texas and western New Mexico, the Federal Offshore Gulf of Mexico, and the Bakken region in North Dakota and Montana,” STEO principal contributors Tim Hess and Candace Dunn write.
In 2014, a drop in oil prices caused U.S. crude oil companies to trim overhead and downsize production.
(Excerpt) Read more at breitbart.com ...
More jobs and WINNING.
I’m still not tired of winning.
I hope bathhouse barry tries to take credit for this.
Stupid is as stupid does.
That whole “America in decline” thing is so passe.
But they told us it would take at least 10 years to do that.
10 years ago.
Maybe they forgot to unfold the map.
The only oil the media will talk about is how much lube Spermy Daniel’s uses
“President Donald Trump’s America First energy policy has catapulted the United States to the world’s largest global crude oil producer”
LOL, I remember, back not so long ago, how we had already reached “peak oil”. Alas, yes, we were using more oil than was being produced AND oil supplies were finite, taking millions of years to produce new oil.
So, I looked into it. Checking oil producers magazines and articles (the people who actually KNOW!). Guess WHAT! I read about the Bakkan formation.
“The Bakken Formation is a rock unit from the Late Devonian to Early Mississippian age occupying about 200,000 square miles of the subsurface of the Williston Basin, underlying parts of Montana, North Dakota, Saskatchewan and Manitoba. The formation was initially described by geologist J.W. Nordquist in 1953.”
(1953????)
“The USGS estimates that there may be 4.4 to 11.4 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation”
Oil drilling innovations were making this oil and deeper offshore oil profitable.
Was the left suppressing this information and technology? Hmmmmm.
“....This information backs up the idea that Earth is actually an oil-producing machine. We call energy sources such as crude oil and natural gas fossil fuels based on the assumption that they are the products of decaying organisms, maybe even dinosaurs themselves. But the label is a misnomer. Research from the last decade found that hydrocarbons are synthesized abiotically.”
“In other words, as Science magazine has reported, the “data imply that hydrocarbons are produced chemically” from carbon found in Earth’s mantle. Nature magazine calls the product of this process an “unexpected bounty “ of “natural gas and the building blocks of oil products.””
“In biology and ecology, abiotic components or abiotic factors are non-living chemical and physical parts of the environment that affect living organisms and the functioning of ecosystems. Abiotic factors and the phenomena associated with them underpin all biology.”
https://www.investors.com/politics/commentary/we-are-not-running-out-of-oil-earth-produces-crude/
In other words oil is constantly being produced WITHOUT using dead flora or fauna.
Unintended consequences of this is, to keep the Euro stable vs the dollar, the EU (read here Germany) shifts even more of its demand toward the lowest price producer, IOW, Russia. The EU already gets 45 percent of its oil from Russia, 35 percent from the ME, 15 percent from Norway (which is not in the EU, btw) and the rest from North American sources, so the shift toward methane for heating and even power generation will continue and accelerate in Europe.
Something we have been dreaming about for decades comes true. WINNING.
Where does this leave electric cars?
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