June 11, 2015

...AND CHEAPER...:

U.S. Ousts Russia as Top World Oil, Gas Producer in BP Data (Rakteem Katakey, June 10, 2015, Bloomberg)


The U.S. has taken Russia's crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America's shale fields.

U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according to BP Plc's Statistical Review of World Energy released on Wednesday. Gas output also climbed, putting America ahead of Russia as a producer of the hydrocarbons combined.

The data showing the U.S.'s emergence as the top driller confirms a trend that's helped the world's largest economy reduce imports, caused a slump in global energy prices and shifted the country's foreign policy priorities.

"We are truly witnessing a changing of the guard of global energy suppliers," BP Chief Economist Spencer Dale said in a presentation.

Posted by at June 11, 2015 7:33 PM
  

blog comments powered by Disqus
« KNOWING YOUR ALLIES: | Main | JIM CROW DIDN'T END BECAUSE WHITE SOUTHERNERS STOPPED SUPPORTING IT: »