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| Economy |
| US oil output to hit record over 11M bpd by end of 2019, EIA |
| 2018-01-10 |
| h/t Instapundit U.S. crude oil production is expected to climb to more than 10 million barrels per day (bpd) early in 2018, reaching that milestone for the first time since 1970, and to continue to surge into 2019 to a record high, the U.S. Energy Information Administration said Tuesday. Production was expected to hit 10.04 million bpd during the first quarter of this year, the agency said in a monthly report. The 10 million-bpd milestone previously had not been expected to be reached until the fourth quarter. The EIA revised its production growth forecast for 2018 sharply higher to 970,000 bpd from 780,000 bpd in its previous outlook. U.S. output will be at an all-time high in 2019, surpassing 11 million bpd by the end of that year, a new high for national output, the EIA said in the report. The average production in 2019 will rise 580,000 bpd to 10.85 million bpd, the agency said in its first outlook for next year. Better than nuking Mecca |
| Posted by:g(r)omgoru |
| #6 The United States produces 25% of the world's GDP with only 5% of the population. We have the world's most efficient economy by far. However I think that is racist or something. |
| Posted by: Creling Pelosi3622 2018-01-10 18:38 |
| #5 Well, a lot of that growth took place under Obama. Riiiiight. Even Mitt called him on that fib. The growth took place in spite of Obama. Thank you free enterprise. Well, relatively free enterprise. |
| Posted by: Bobby 2018-01-10 16:16 |
| #4 harcourt, current annual consumption is about 20 million bpd about 65% of this is for gasoline, diesel for trucks and jet fuel the US energy info administration keeps the numbers https://www.eia.gov/outlooks/steo/report/us_oil.php |
| Posted by: lord garth 2018-01-10 11:13 |
| #3 The best revenge is being successful. |
| Posted by: Roth LaDoad 2018-01-10 10:29 |
| #2 Theoretically, our production exceeds our consumption and so we are a net exporter...right now we are ahead of KSA as the largest exporter of oil in the world...and we keep driving down oil prices as we get better at wringing oil out of those shale and tar sand deposits. Hence, the mass purge of dilettantes in the KSA royalty as they are having trouble meeting their budget goals with current oil prices. |
| Posted by: Sock Puppet of Doom 2018-01-10 09:13 |
| #1 So what's our annual usage?. |
| Posted by: Harcourt Angoluting9366 2018-01-10 08:07 |