US hits all time record high for oil production, is now net oil exporter, and is set to surpass Saudi Arabia in export of crude & oil products.
The changes in energy production over recent years is astounding.
My blogging has dropped off a lot over the last year or so due to distractions. Have a huge backlog of things to discuss, such as:
- The US is a net oil exporter
- Oil production in US is at all time record high
- Sometime later this year the US will be exporting more oil product than Saudia Arabia
MSN – 12/7/18 – US ends its reliance on foreign oil for the first time in 75 years – In the last week of November 2018, the US exported more oil than we imported. The US is now a net exporter. Ponder that.
The Permian, Bakken, and Marcellus fields are mentioned as biggest contributors.
The stats for crude and processed oil products cited in article are:
- Previous week – 211K bopd net export
- Average to date in 2018 – 3M bopd net import
- Average for 2005, which is 14 years ago – 12M bopd
Check out the graph in the article. On a 100 year time scale, it shows tipping over the top of a hill in 2005 with a then near straight line drop in net imports until 2018.
Yahoo Finance – 6/29/19 – U.S. Oil Output Tops 12 Million Barrels a Day for First Time – In April 2019 oil production in the US hit a record level of 12.16 million bopd. That was a 2.1% increase for the month.
The US is producing more oil that either Saudi Arabia or Russia, according to the article.
CNN Business – 3/21/19 – America is set to surpass Saudit Arabia in a “remarkable” oil milestone – Article cites a research report which asserts sometime later in 2019 the US will export more oil, natural gas liquids, and processed oil (such as gasoline) that Saudi Arabia. Think of it: the US exporting more energy than Saudi Arabia.
Article says US oil production has doubled in the last 10 years.
Send your thank you notes to hydraulic fracturing and horizontal drilling.
Oh yeah. One more thing.
What Peak Oil?