US Nearly World's New No. 1 Oil-and-Gas Producer

[JayAtl]

(NEWSER) – The shale oil and gas boom has transformed energy markets so much that the US is on course to become the world's biggest combined oil-and-gas producer this year—if it hasn't already overtaken Russia. In July, America produced around 22 million barrels a day of oil, natural gas and related fuels, the Wall Street Journal reports, compared to Moscow's 2013 forecast of around 21.8 barrels a day. Last year, the US tapped more natural gas than Russia for the first time in 30 years, and the gap in crude oil production is quickly narrowing.

American imports of natural gas and crude oil have fallen 32% and 15% since 2008 and are still dropping—but experts warn that the energy boom and the US lead in production may not last that much longer. Russia still has huge untapped shale reserves, and the US boom could be hit hard by swings in commodity prices, government regulation, and rising public opposition to fracking. Drilling in shale is a lot more expensive than other kinds of exploration, meaning a global downturn and a fall in energy prices could dramatically slow production.

US Nearly World's New No. 1 Oil-and-Gas Producer - Combined output set to overtake Russia

 

[JayAtl]

This was projected to happen in 4 years but it happening this year. fantastic news for us!

 

[Lightningbolt]

Welcome back Jay!

Enjoy your stay until your next vacation

 

[JayAtl]

Welcome back Jay!

Enjoy your stay until your next vacation

every minute i give you heartburn in your house- is welcome...

 

[Lightningbolt]

every minute i give you heartburn in your house- is welcome...

Heartburn? For what?

I quite enjoy trolls like you, you keep this forum entertained

I miss you everytime you take your vacation. Because I miss an opportunity to destroy yet another NATO (No Action, Talk Only) Indian troll.

Hopefully you can stay a bit longer this time.

 

[JayAtl]

Heartburn? For what?

I quite enjoy trolls like you, you keep this forum entertained

I miss you everytime you take your vacation. Because I miss an opportunity to destroy yet another NATO (No Action, Talk Only) Indian troll.

Hopefully you can stay a bit longer this time.

all one has do is read page 1 of your comments and history of comments here. It is evident of the heartburn and tantrums you throw as a result of it. getting you to have an emotional outburst and reaction is as easy as taking candy away away from a child.

so yes thank you- I enjoy every minute of it I can in your house.

 

[Obambam]

When US finally becomes worlds number one producer, they will be as rich as the Arabs, they will be able to fix their debt crisis and mend their economy.

 

[gambit]

Wait a sec...I thought the US is a 'failed state'...???

 

[UnChosen]

When US finally becomes worlds number one producer, they will be as rich as the Arabs, they will be able to fix their debt crisis and mend their economy.

It's not really "US becomes No. 1 producer", it's "US Corporations becomes No. 1 producer". There is a BIG difference compared to state owned oil companies in the Middle East. The US would probably pay more subsidies to expand oil production more than they would ever get back in taxes. The republicans would probably throw a fit and shutdown the government again if anyone tries to make big oil corps pay more tax.

It's similar to how the US has a huge agricultural industry but the country as a whole does NOT benefit because of the huge farming subsidies. Whatever slight benefit in cheaper food prices is now gone with China competitively buying as well.

P.S. Canada is nearly as bad by letting corporation sell our resources cheaply to the US only to buy it back at double the price...but at least we do get some revenue in comparison to the tax loophole ridden US.

 

[Lightningbolt]

all one has do is read page 1 of your comments and history of comments here. It is evident of the heartburn and tantrums you throw as a result of it. getting you to have an emotional outburst and reaction is as easy as taking candy away away from a child.

so yes thank you- I enjoy every minute of it I can in your house.

It's my pleasure to keep NATO (No Action, Talk Only) Indians in check on this forum.

I am the enforcer.

I bait chicks like you and paint you in pink

I love it

Wait a sec...I thought the US is a 'failed state'...???

Oh don't worry it still is

Failing by the second too

 

[liontk]

It's not really "US becomes No. 1 producer", it's "US Corporations becomes No. 1 producer". There is a BIG difference compared to state owned oil companies in the Middle East. The US would probably pay more subsidies to expand oil production more than they would ever get back in taxes. The republicans would probably throw a fit and shutdown the government again if anyone tries to make big oil corps pay more tax.

It's similar to how the US has a huge agricultural industry but the country as a whole does NOT benefit because of the huge farming subsidies. Whatever slight benefit in cheaper food prices is now gone with China competitively buying as well.

P.S. Canada is nearly as bad by letting corporation sell our resources cheaply to the US only to buy it back at double the price...but at least we do get some revenue in comparison to the tax loophole ridden US.

Don't worry we will still maintain our production with east to west project plus the pipeline to BC, once our envrionmentalist folks become patriotic to nation instead of their left wing politics from a strategic point of view. However as far as analysis is considered, + I was thinking the same thing literally.

 

[faithfulguy]

(NEWSER) – The shale oil and gas boom has transformed energy markets so much that the US is on course to become the world's biggest combined oil-and-gas producer this year—if it hasn't already overtaken Russia. In July, America produced around 22 million barrels a day of oil, natural gas and related fuels, the Wall Street Journal reports, compared to Moscow's 2013 forecast of around 21.8 barrels a day. Last year, the US tapped more natural gas than Russia for the first time in 30 years, and the gap in crude oil production is quickly narrowing.

American imports of natural gas and crude oil have fallen 32% and 15% since 2008 and are still dropping—but experts warn that the energy boom and the US lead in production may not last that much longer. Russia still has huge untapped shale reserves, and the US boom could be hit hard by swings in commodity prices, government regulation, and rising public opposition to fracking. Drilling in shale is a lot more expensive than other kinds of exploration, meaning a global downturn and a fall in energy prices could dramatically slow production.

US Nearly World's New No. 1 Oil-and-Gas Producer - Combined output set to overtake Russia

Go ahead and cheer for America. Don't forget to cheer once India start to lease military bases to the USN and USAF.

 

[JayAtl]

It's my pleasure to keep NATO (No Action, Talk Only) Indians in check on this forum.

I am the enforcer.

I bait chicks like you and paint you in pink

I love it

Look at what one post did to you, got you all bent over and replying to my posts. What could be a better example of me tugging at your leash, and you doing flip over tricks for me. Just like the CCP does to you.

Go ahead and cheer for America. Don't forget to cheer once India start to lease military bases to the USN and USAF.

When is your Visa up?

 

[faithfulguy]

Look at what one post did to you, got you all bent over and replying to my posts. What could be a better example of me tugging at your leash, and you doing flip over tricks for me. Just like the CCP does to you.



When is your Visa up?

I voted to expel you back to India. Am I humane. You are not a real American while I grew up here. Cheered for the election of Ronald Reagan while in elementary school. At the same time, your folks were cheering for Soviet Union back home in your superpower India.

 

[Lightningbolt]

Look at what one post did to you, got you all bent over and replying to my posts. What could be a better example of me tugging at your leash, and you doing flip over tricks for me. Just like the CCP does to you.



When is your Visa up?

Why are you replying to my posts?