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Title: America Sits Atop the Global Hydrocarbon Throne for 5th Straight Year
Source:
The American Interest
URL Source: https://www.the-american-interest.c ... -throne-for-5th-straight-year/
Published: Jun 8, 2017
Author: Â
Post Date: 2017-06-08 22:13:19 by Tooconservative
Keywords: None
Views: 1375
Comments: 4
Last year, for the fifth straight time, the United States produced more oil and gas than any other country on this planet. That data comes to us courtesy of the Energy Information Administration (EIA): American natural gas production has been top in the world for seven years now, and our petroleum production—which includes lease condensate and other liquids in addition to crude—has been second to none for three years. All credit for this renaissance needs to go to shale producers, who have changed the energy conversation here in the U.S. from one centered around concerns of scarcity to one debate the best ways to use this newfound abundance. As petrostates struggle to cut production to try and push prices up, U.S. companies are seeing output surge once again. It’s easy to get used to a new thing, but let’s remember just how extraordinary this shakeup of the U.S. energy landscape has been. And try to keep in mind that this fact is behind a lot of the geopolitical turbulence we’re seeing today all around the world. For the United States and Russia, total petroleum and natural gas hydrocarbon production in energy content terms is almost evenly split between petroleum and natural gas, while Saudi Arabia’s production heavily favors petroleum. Total petroleum production is made up of several different types of liquid fuels, including crude oil and lease condensate, tight oil, extra-heavy oil, and bitumen. In addition, various processes produce natural gas plant liquids (NGPL), biofuels, and refinery processing gain, among other liquid fuels.
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#1. To: Tooconservative, *Neo-Lib Chickenhawk Wars* (#0)
let’s remember just how extraordinary this shakeup of the U.S. energy landscape has been. And try to keep in mind that this fact is behind a lot of the geopolitical turbulence we’re seeing today all around the world.
Can we bring the troops home now, and mind our own business?
The D&R terrorists hate us because we're free, to vote second party
"We (government) need to do a lot less, a lot sooner" ~Ron Paul#2. To: hondo68 (#1) (Edited)
Can we bring the troops home now, and mind our own business?
We pretty much could.
However, China and the Arabs would fill the vacuum. They would likely do things like get rid of the petrodollar economy.
We cannot be blackmailed again as we were for decades by OPEC and others. The Mideast simply is not that important to our own energy supply.
#3. To: Tooconservative (#0)
Is this report a criticism or celebration of the US status?
#4. To: Liberator (#3)
I'd say a celebration.
Surely, you are old enough to recall that every U.S. president since Nixon has devoutly promised us energy independence. We heard plenty of it from congressional candidates and party leaders in both parties.
Now the fracking industry and the shale oil people have delivered it and people act like they shit on our doorsteps or something.
I'm glad to finally give OPEC its comeuppance. And be in a position to help crush Russia's energy gouging of the EU.
Screw the Arabs. Especially the Saudis. I keep laughing about how the Saudis tried to drive the price of oil so low for so long that our shale oil wells would all get closed down. And we kept enough of them going that the Saudis lost over half of their massive cash reserves (much of it our petrodollars) and have finally been forced back to OPEC to try to squeeze prices higher. And that just makes our domestic oil producers get an even bigger hardon to pump more oil.
For some of us, this is a grudge match against the Saudis and OPEC. So, hell yes, I am celebrating no matter what the writer of this article was doing.
BTW, national gas prices averaged $2.35 today according to FNC, the lowest since 2005.
Check current reported prices at GasBuddy. It's now at $2.333/gal.
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