| Submit your comments on this article |
| Economy |
| American shale revolution ends Saudi reign as oil king |
| 2014-10-13 |
| h/t Instapundit The United States is set to be crowned the world's largest producer of liquid petroleum this week, knocking Saudi Arabia off the top spot for the first time in two decades. The shale oil and gas boom in America has led to output increasing from about 8 million barrels a day in 2011 to approaching 12 million barrels. The real WOT |
| Posted by:g(r)omgoru |
| #8 Two things really prevent the shale oil from taking off; First is the tree huggers who cry about the dangers of oil trains, and second is the lack of capacity of the 6 Class 1 RRs; between lack of rolling stock and ( bigger issue IMHO) is lack of trackage to keep everything rolling. They just now got almost dug out from last year's grain backlog. |
| Posted by: USN, Ret. 2014-10-13 20:37 |
| #7 Misread the headline as: American shale revolution ends. Saudi Reigns as oil king. Didn't like that at all. |
| Posted by: rjschwarz 2014-10-13 14:41 |
| #6 Diesel prices in my area have dropped substantially since last summer. I doubt they will ever again go below $2 / gallon, though. I junked my old diesel pickup this spring - it would get 22-25 mpg with nothing in the bed, even though it weighed 5000 lb. |
| Posted by: Anguper Hupomosing9418 2014-10-13 13:07 |
| #5 I don't see diesel prices dropping. |
| Posted by: Skidmark 2014-10-13 12:30 |
| #4 American shale revolution ends Saudi reign as oil king And to think, this happened IN SPITE of the regime in Washington. |
| Posted by: Besoeker 2014-10-13 12:23 |
| #3 Good news morning. Now, if we could resurrect the coal industry in the coal-mining region of the U.S. |
| Posted by: JohnQC 2014-10-13 12:21 |
| #2 Isn't this why the Saudis are happy with O as president? Making the US as stable as any other ME country means the 'secure source' edge is sort of mitigated. Add in the ban on the export of oil (and anti-Keystone support in the EPA), the Saudis/Gulf Arabs have the means to check the international market from getting too glutted. Meanwhile the Chinese will be glad to pick up anything the Americans previously were purchasing as their industrial base need for the stuff just continues to ramp up. |
| Posted by: Procopius2k 2014-10-13 09:45 |
| #1 Add in canadian oil and gas boom and the dollars are at least starting to stay in North America. F the Saudis |
| Posted by: Airandee 2014-10-13 07:35 |