Green Energy
From the Financial Times:
- U.s. Seen As Biggest Oil Producer After Overtaking Saudi Arabia
From Bloomberg: 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...
- Us Surpasses Saudi Arabia In Oil Production
As Dave over at Ace of Spades says, "You'd think this'd be a big fuckin' deal" In spite of the Obama Administration's hostility to carbon-rich energy, private actors with private capital deployed on private (and state) land have launched...
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myway: Iran warns Gulf Arabs on oil By TAREK EL-TABLAWY CAIRO (AP) - Iran warned Gulf Arab oil producers against boosting production to offset any potential drop in Tehran's crude exports in the event of an embargo affecting its oil sales, the latest...
- At $4 A Gallon For Gas, The Market's Oversupplied. Who Knew?
Reuters: Saudi oil minister says mkt oversupplied, cuts output By Amena Bakr and Reem Shamseddine KUWAIT | Sun Apr 17, 2011 8:03pm IST KUWAIT (Reuters) - Saudi Arabia Oil Minister Ali al-Naimi said on Sunday the world oil market was oversupplied and that...
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MSNBC: OPEC ministers say world can handle $100 oil Other exporters indicate that cartel may not increase crude production By Shaimaa Fayed and Amena Bakr CAIRO — The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister...
Green Energy
US poised to become world’s leading liquid petroleum producer
From the Financial Times:
High quality global journalism requires investment. The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector.
US production of oil and related liquids such as ethane and propane was neck-and-neck with Saudi Arabia in June and again in August at about 11.5m barrels a day, according to the International Energy Agency, the watchdog backed by rich countries.
With US production continuing to boom, its output is set to exceed Saudi Arabia’s this month or next for the first time since 1991.
Riyadh has stressed that the rise of the US should not detract from its own critical role in oil markets. It says it has the ability to increase its output by 2.5m b/d if needed to balance supply and demand.
Prince Abdulaziz Bin Salman Bin Abdulaziz, Saudi Arabia’s deputy oil minister, said earlier this month that the kingdom was the “only country with usable spare oil production capacity”.
However, even Saudi officials do not deny that the rise of the US to become the world’s largest petroleum producer – with an even greater lead if its biofuel output of about 1m b/d is included – has played a vital role in stabilising markets.
Global crude prices have fallen in the past two years, in spite of the turmoil in Syria and Iraq, fighting in Libya and Russia’s conflict with Ukraine.
- U.s. Seen As Biggest Oil Producer After Overtaking Saudi Arabia
From Bloomberg: 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...
- Us Surpasses Saudi Arabia In Oil Production
As Dave over at Ace of Spades says, "You'd think this'd be a big fuckin' deal" In spite of the Obama Administration's hostility to carbon-rich energy, private actors with private capital deployed on private (and state) land have launched...
-
myway: Iran warns Gulf Arabs on oil By TAREK EL-TABLAWY CAIRO (AP) - Iran warned Gulf Arab oil producers against boosting production to offset any potential drop in Tehran's crude exports in the event of an embargo affecting its oil sales, the latest...
- At $4 A Gallon For Gas, The Market's Oversupplied. Who Knew?
Reuters: Saudi oil minister says mkt oversupplied, cuts output By Amena Bakr and Reem Shamseddine KUWAIT | Sun Apr 17, 2011 8:03pm IST KUWAIT (Reuters) - Saudi Arabia Oil Minister Ali al-Naimi said on Sunday the world oil market was oversupplied and that...
-
MSNBC: OPEC ministers say world can handle $100 oil Other exporters indicate that cartel may not increase crude production By Shaimaa Fayed and Amena Bakr CAIRO — The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister...