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Thread: U.S. Oil Output is Booming

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    U.S. Oil Output is Booming

    U.S. oil production is booming and is forecast to top that of heavyweight Saudi Arabia and rival Russia this year, a global energy agency said Friday.

    This year promises to be a record setting one.

    The price of crude has risen about 50 percent since June, with the U.S. benchmark now trading around $63 a barrel.

    abcnews.go.com/international/wireStory/us-oil-output-booming-outpacing-saudis-russia-52458203

    We're gonna be number one!

    We're gonna be number one!

    Thanks Trump!

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    Thought Provocateur NightSwimmer's Avatar
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    U.S. Oil Output is Booming

    Has been for a long time. That's why we haven't been paying $5.00 per gallon for gasoline since Bush/Cheney left office.

    Thanks, Obama!
    Thanks from Panzareta

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    Quote Originally Posted by NightSwimmer View Post
    Has been for a long time. That's why we haven't been paying $5.00 per gallon for gasoline since Bush/Cheney left office.

    Thanks, Obama!
    But, but, but...this year we're gonna be number one!

    How many years since THAT happened?

    Thanks Obama!

    Thanks Trump!

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    Penny for your thots Macduff's Avatar
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    It has nothing to do with either of those idiots. They didn't invent fracking.
    Thanks from Puzzling Evidence

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    Quote Originally Posted by Macduff View Post
    It has nothing to do with either of those idiots. They didn't invent fracking.
    It's the rising price of oil that is gonna do it.

    M O N E Y

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    And on the subject of oil:

    Despite Interior Secretary Ryan Zinke's Jan 9 declaration that Florida is "off the table for offshore oil drilling, that activity is actually still on the table.

    Wonder what our Florida members think about THAT?

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    Bad Policy Good Politics DebateDrone's Avatar
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    Quote Originally Posted by Miller47 View Post
    U.S. oil production is booming and is forecast to top that of heavyweight Saudi Arabia and rival Russia this year, a global energy agency said Friday.

    This year promises to be a record setting one.

    The price of crude has risen about 50 percent since June, with the U.S. benchmark now trading around $63 a barrel.

    abcnews.go.com/international/wireStory/us-oil-output-booming-outpacing-saudis-russia-52458203

    We're gonna be number one!

    We're gonna be number one!

    Thanks Trump!
    The price per barrel is going up which will increase domestic oil production.

    One problem. The US produces inferior Shale and Tar sands oil. Good for gas and other bitumen by products but not the premium sweet crude like sweet intermediate crude the US needs for out plastics and manufacturing needs. Saudi Arabia is the no1 producer of sweet crude and has 2 hundred year reserves.

    It is good news for gas prices although speculators have been keeping prices high.

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    Veteran Member Puzzling Evidence's Avatar
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    Quote Originally Posted by Miller47 View Post
    U.S. oil production is booming and is forecast to top that of heavyweight Saudi Arabia and rival Russia this year, a global energy agency said Friday.

    This year promises to be a record setting one.

    The price of crude has risen about 50 percent since June, with the U.S. benchmark now trading around $63 a barrel.

    abcnews.go.com/international/wireStory/us-oil-output-booming-outpacing-saudis-russia-52458203

    We're gonna be number one!

    We're gonna be number one!

    Thanks Trump!
    What exactly did Trump do?

    That is a silly post. America has been increasing both production and refining for quite a while -- Trump had very little to do with it.

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    Quote Originally Posted by Puzzling Evidence View Post
    What exactly did Trump do?

    That is a silly post. America has been increasing both production and refining for quite a while -- Trump had very little to do with it.
    He's a pro business president.

    But, it's the price of oil that mostly drives these things.

    Oil is up, lately.
    Last edited by Miller47; 20th January 2018 at 05:26 PM.

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    Veteran Member Puzzling Evidence's Avatar
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    Quote Originally Posted by Miller47 View Post
    He's a pro business president.

    But, it's the price of oil that mostly drives these things.

    Oil is up, lately.
    Yes, I noticed that. It's mostly due to the overall world economy and NOT ANYTHING that Trump did.
    Thanks from HayJenn

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