U.S. oil industry set to break record, upend global trade

[bigwave]

U.S. oil industry set to break record, upend global trade

HOUSTON (Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world’s top producer.

The economic and political impacts of soaring U.S. output are breathtaking, cutting the nation’s oil imports by a fifth over a decade, providing high-paying jobs in rural communities and lowering consumer prices for domestic gasoline by 37 percent from a 2008 peak.

Fears of dire energy shortages that gripped the country in the 1970s have been replaced by a presidential policy of global “energy dominance.”

https://www.reuters.com/article/us-usa-oil-record-shale-analysis/u-s-oil-industry-set-to-break-record-upend-global-trade-idUSKBN1F50HV

 

[divemaster5734]

Finally, breaking OPEC.

That oppressive cartel organized by Kissinger intended to subvert the entire middle east  and oppress the rest of humanity, and make a few folks tons o money.

Globalists everywhere are gnashing their teeth in anguish.

 

When I hear a headline proclaiming the "good" news the stock market is up because crude  oil just increased  because silicon valley billionaire techies went on a futures buying spree, which triggered those achademia supported hedge funds it make me almost puke.

 

But then, it clearly demonstrates why all those folks want socialism, because they will be part of the eternal "elites".

 

[umbertino]

Quote

That oppressive cartel organized by Kissinger intended to subvert the entire middle east  and oppress the rest of humanity, and make a few folks tons o money.

End Quote

 

Agreed......

 

Ran out of pluses...Owe you

[umbertino]

 

Ok...Done....Again thanks, DM.