USA Biggest Oil Producer After Overtaking Saudi Arabia

Tedminator

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U.S. Seen as Biggest Oil Producer After Overtaking Saudi Arabia - Bloomberg July 2014

The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said.

U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. The International Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids.

“The U.S. increase in supply is a very meaningful chunk of oil,” Francisco Blanch, the bank’s head of commodities research, said by phone from New York. “The shale boom is playing a key role in the U.S. recovery. If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.”
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So come on, EU.. all yall don't have to be Russia's bitch anymore. We've got lots of natural gas in North America you can buy :excitement:

That is unless the EU likes being Putin's bitch, then by all means proceed with business as usual..

[video=youtube_share;Hgq4w4dqKsU]http://youtu.be/Hgq4w4dqKsU[/video]
 
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Feb 2011
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After the dot com bust, we created a housing bubble and started wars to save the economy, and Keynesians rejoiced. After the housing bubble all but destroyed the economy, we maxed out our monetary strategy and cashed in our long-term energy strategy to save the economy, and again Keynesians rejoiced.

So what's next?
 
Oct 2010
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In the empty heads of the right wingers I own
After the dot com bust, we created a housing bubble and started wars to save the economy, and Keynesians rejoiced. After the housing bubble all but destroyed the economy, we maxed out our monetary strategy and cashed in our long-term energy strategy to save the economy, and again Keynesians rejoiced.

So what's next?
Keynesians didn't cause any of that. Deregulation of banking and Wall Street has been the goal of "economic libertarians" since the New Deal. Your guys wrecked the economy, and you're griping about Keynesians?

LOL!!

I suppose its you're wife's fault if you punch her in the mouth, too?
 
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Keynesians didn't cause any of that. Deregulation of banking and Wall Street has been the goal of "economic libertarians" since the New Deal. Your guys wrecked the economy, and you're griping about Keynesians?

LOL!!

I suppose its you're wife's fault if you punch her in the mouth, too?
Yep, Bill Clinton and his man Larry Summers, the same sort of "Keynesians" Obama has advising him.

Larry Summers from George Soros' INET conference: No Regrets on Deregulation | TIME.com

The neoliberals have their meathooks deep into the Democrat Party. At least a few Democrats kept Summers away from the FED. These claims that "socialism" and "Keynesian" policies led to the economic crisis are absurd. It flies in the face of the reality that low wages and deregulation caused this crisis. As far as Freddie and Fannie go:

http://research.stlouisfed.org/wp/2012/2012-005.pdf

Did Affordable Housing Legislation Contribute to the Subprime Securities Boom?

No. In this paper we use a regression discontinuity approach to investigate whether affordable housing policies in influenced origination or affected prices of subprime mortgages. We use merged loan-level data on non-prime securitized mortgages with individual and neighborhood-level data for California and Florida. We nd no evidence that lenders increased subprime originations or altered pricing around the discrete eligibility cutoffs for the Government Sponsored Enterprises' (GSEs) affordable housing goals or the Community Reinvestment Act. Although the GSEs may have played a role in the crisis, our results indicate that it was not due to their affordable housing mandates.
 
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Tedminator

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Russia Has Lost Control of Central Asian Gas | Opinion | The Moscow Times Jul. 14 2014

in a global context, Russia's troubles start coming to light. The United States saw the most rapid energy production growth of any nation and now stands as the world's largest producer of natural gas. Likewise, the EU's gas storage units, following a mild winter, are currently at record-high 65 percent capacity.

While the report doesn't reflect the post-Crimea political climate, the EU will only continue its divestment from Russia, with new emphasis on shale exploration, renewable expansion and imports from North America.

With North America and Europe turning to non-Russian sources for their energy needs, you might think that China, which the report says accounts for 22.4 percent of the world's energy consumption, would be able to help Moscow stomach the loss of Western business.


But this is where the report truly highlights the Kremlin's plight. For where Russia could have theoretically been one of the prime providers quenching Beijing's thirst for energy, a combination of Moscow's blinkered policies and China's geopolitical strength means otherwise.

Instead of turning to Siberian sources for energy needs, China has recruited Central Asia to provide the lion's share of its natural gas demands. According to BP's report, China now receives nearly half of its natural gas supply from Central Asia.

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Go fuck yourself, Putin. When it comes to economic wars, you don't fuck with the global alliance the USA has built.
We buried the USSR before, we'll bury Russia again. :02.47-tranquillity:
 
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I didn't say they "caused" anything. I said they rejoiced. Keynesians rejoice when government finds a reason to spend money to avert economic contractions. Doesn't matter what for.
Really? It doesn't matter whether or not the U.S. spends it's wealth to invade and occupy countries or re-build infrastructure at home? You DID say, "Doesn't matter what for." Didn't you?
 
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Didn't conservative oil friendly politicians promise that if only liberal environmental wackos allowed more drilling in the US, the price of gas at the pump would come down?

What gives?
 
Jul 2011
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Didn't conservative oil friendly politicians promise that if only liberal environmental wackos allowed more drilling in the US, the price of gas at the pump would come down?

What gives?
Very simple. That oil and gas is private property and belongs to the multinational corporations. They are free to sell it on the open market to the highest bidder. How would it be in their best interests to bring down the price of oil and gas in the United States? A company makes the highest possible profits by selling their product/services at the highest price a given market will bear. Business 101.
 
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Very simple. That oil and gas is private property and belongs to the multinational corporations. They are free to sell it on the open market to the highest bidder. How would it be in their best interests to bring down the price of oil and gas in the United States? A company makes the highest possible profits by selling their product/services at the highest price a given market will bear. Business 101.
So then oil friendly guys were lying to us just so they could sell more oil and get richer?