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Quite the story on July 4th......US seen as the biggest oil

littlejoe

Well-known member
By Grant Smith - Jul 4, 2014

The U.S. overtook Saudi Arabia and Russia to become the world’s biggest producer of oil as extraction of energy from shale rock strengthens the nation’s economy, 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.

“America is now the world’s leading producer of oil and gas,” Francisco Blanch, the bank’s head of commodities research in New York, said in the report. “The American shale revolution has had a transformational effect on the U.S. and global economies in recent years. Low energy prices are a key edge of the U.S. economy.”

Oil extraction is soaring at shale formations in Texas and North Dakota as companies split apart rocks using high-pressure liquid, a process known as hydraulic fracturing, or fracking. The surge in supply combined with restrictions on exporting crude is curbing the price of West Texas Intermediate, America’s oil benchmark. The U.S., the world’s largest oil consumer, still imported an average of 7.5 million barrels a day of crude in April, according to the Department of Energy’s statistical arm.

OPEC Unrest

U.S. oil output will surge to 13.1 million barrels a day in 2019 and plateau thereafter, according to the IEA, a Paris-based adviser to 29 energy-consuming nations. The nation will lose its top-producer ranking at the start of the 2030s, the agency said in its World Energy Outlook in November.

Production growth outside the U.S. has been lower than the bank anticipated, keeping global oil prices high, Blanch said. Partly as a result of the output boom, WTI futures on the New York Mercantile Exchange remain at a discount of about $7 a barrel to their European counterpart, the Brent contract on ICE Futures Europe’s London-based exchange. WTI was at $103.93 a barrel as of 10:44 a.m. London time.

Rising U.S. oil supplies come as an Islamist insurgency threatens output in Iraq, the second-largest producer in the Organization of Petroleum Exporting Countries after Saudi Arabia. Territorial gains in northern Iraq by a group calling itself the Islamic State has spurred concerns that oil flows from the south could be disrupted. Exports from Libya have been disrupted by protests, while Nigeria’s production is crimped by oil theft and sabotage.

North Dakota

Libya will resume exports as soon as possible from two oil ports in the country’s east after taking back control from rebels who blocked crude shipments for the past year, Mohamed Elharari, spokesman for the state-run National Oil Corp., said by phone yesterday from Tripoli.

The U.S. will consolidate its position as the world’s biggest producer in the coming months if returning Libyan supply limits the need for Saudi barrels, said Julian Lee, an oil strategist who writes for Bloomberg News First Word. The observations he makes are his own.

Fracking is used in states from North Dakota to Pennsylvania, helping push U.S. natural gas production to new highs in each of the past seven years, according to the U.S. Energy Information Administration. Annual investment in oil and gas in the U.S. is at a record $200 billion, reaching 20 percent of the country’s total private fixed-structure spending for the first time, Blanch said.

Export Licenses

Condensate export licenses awarded by the Commerce Department are “a positive first step” to dispersing the build up of crude supply in North America, Blanch said in a previous report on June 27.

Pioneer Natural Resources Co. said on July 25 that the Commerce Department had allowed export of condensate produced in Texas, provided it was first subject to preliminary distillation. The U.S. could potentially have daily exports of 1 million barrels of crude, including 300,000 of condensate, by the end of the year, according to a June 25 report from Citigroup Inc.
 

littlejoe

Well-known member
I find it highly gratifying to have had a hand in this.

As opposed to stalking on an ag chat board, waiting for a member to post so I can call him a liar, drunk, etc.

As opposed to being a racist, a bully, a coward, and/or blindly following a political party and/or religious creed.

As opposed to trying to feel good about myself by tearing others down.

Just might be a good day for some of you dopes to wake up.
 

redrobin

Well-known member
Yet here you said we were running out of oil....years ago.


Jason said:
World demand for fuel and energy is at all time highs. The price will not fall unless deamnd is reduced, or supply is increased.

Supply is at or near peak, so that option is not available.

Demand, a factor of price times consumption, seems to not be lagging anytime in the near future. If it were, more little cars, fuel cells, and other technology would be replacing the gass guzzlers. Yet the SUV's are still the best selling vehicles for the auto makers.

China has a huge appetitie for energy, their economy is growing and they are buying energy to power it.

Industry analysists state that not when the oil is depleted from the Earth, but rather when demand out strips available supply, is when the real trouble will start. Some say this could happen within a few years. Remember the oil in the ground needs to be pumped and refined before it is available for sale. It is impossible to pump it faster than physics allows, and why would more refineries be built if the supply is finite?

The largest supply of crude is said to be in the Alberta tar sands, but extraction is expensive and slow. Higher prices for crude are what makes companies willing to spend the extra dollars to reach these supplies. If the price were to fall production would simple slow as oil will keep.
 

hopalong

Well-known member
T Y liljoe/oldtimer.. once again yon saved the world :roll: :roll: :roll: according to your keyboard,,,and you calling every one cowards... :wink: :wink:
guess your monitor hides your shame COWARD
 

Whitewing

Well-known member
littlejoe said:
I find it highly gratifying to have had a hand in this.

As opposed to stalking on an ag chat board, waiting for a member to post so I can call him a liar, drunk, etc.

As opposed to being a racist, a bully, a coward, and/or blindly following a political party and/or religious creed.

As opposed to trying to feel good about myself by tearing others down.

Just might be a good day for some of you dopes to wake up.

Well, here's my 2 cents.

Everytime you claim hoppy is mentally-challenged or lives in cargo container, you're being a bully and every time you call George Bush a liar but refuse to support your assertions with any kind of valid link or argument, you're being a coward and trying to make yourself feel good by tearing him down.

And the fact that you sound so much like OT is really, well, just plain creepy.
 

littlejoe

Well-known member
Whitewing said:
littlejoe said:
I find it highly gratifying to have had a hand in this.

As opposed to stalking on an ag chat board, waiting for a member to post so I can call him a liar, drunk, etc.

As opposed to being a racist, a bully, a coward, and/or blindly following a political party and/or religious creed.

As opposed to trying to feel good about myself by tearing others down.

Just might be a good day for some of you dopes to wake up.

Well, here's my 2 cents.

Everytime you claim hoppy is mentally-challenged or lives in cargo container, you're being a bully and every time you call George Bush a liar but refuse to support your assertions with any kind of valid link or argument, you're being a coward and trying to make yourself feel good by tearing him down.

And the fact that you sound so much like OT is really, well, just plain creepy.

hola whitey. hoppy posted cargo container as address. I didn't. I don't recall saying he's mentally challenged, but now that you point it out, it is obvious, ain't it? I don't think I said bush lied. although if not, I shoulda, about weapons mass destruction so consider I did. I did say he was coward and draft dodger. also incompetent. a link? go to yougottabeshittinme.com

gracias---but I got lotsa things to feel good about. so ya' missed there. hey---one of them is I know how to adjust a square baler and sharpen knives so my bales ain't all ratty. I also know how to efficiently load a truck. ya oughta spend yer two cents on basic knowledge afore ya start flapping your jaws at me. the fact that all you anti ot dopes sound like clones I find 'creepy'--lol. ps---tomorrows a new day---not too late for some heads to get yanked outa asses--lotsa nylon tow ropes around.............
 

Brad S

Well-known member
Irony: "I find it highly gratifying to have had a hand in this.

As opposed to stalking on an ag chat board, waiting for a member to post so I can call him a liar, drunk, etc.

As opposed to being a racist, a bully, a coward, and/or blindly following a political party and/or religious creed.

As opposed to trying to feel good about myself by tearing others down.

Just might be a good day for some of you dopes to wake up."
 

Whitewing

Well-known member
littlejoe said:
Whitewing said:
littlejoe said:
I find it highly gratifying to have had a hand in this.

As opposed to stalking on an ag chat board, waiting for a member to post so I can call him a liar, drunk, etc.

As opposed to being a racist, a bully, a coward, and/or blindly following a political party and/or religious creed.

As opposed to trying to feel good about myself by tearing others down.

Just might be a good day for some of you dopes to wake up.

Well, here's my 2 cents.

Everytime you claim hoppy is mentally-challenged or lives in cargo container, you're being a bully and every time you call George Bush a liar but refuse to support your assertions with any kind of valid link or argument, you're being a coward and trying to make yourself feel good by tearing him down.

And the fact that you sound so much like OT is really, well, just plain creepy.

hola whitey. hoppy posted cargo container as address. I didn't. I don't recall saying he's mentally challenged, but now that you point it out, it is obvious, ain't it? I don't think I said bush lied. although if not, I shoulda, about weapons mass destruction so consider I did. I did say he was coward and draft dodger. also incompetent. a link? go to yougottabeshittinme.com

gracias---but I got lotsa things to feel good about. so ya' missed there. hey---one of them is I know how to adjust a square baler and sharpen knives so my bales ain't all ratty. I also know how to efficiently load a truck. ya oughta spend yer two cents on basic knowledge afore ya start flapping your jaws at me. the fact that all you anti ot dopes sound like clones I find 'creepy'--lol. ps---tomorrows a new day---not too late for some heads to get yanked outa asses--lotsa nylon tow ropes around.............

Struck a nerve I see. Good.
 

TexasBred

Well-known member
Proud to say that 1 in every 4 drilling rigs in the world is drilling right here in Texas. Hope by next year it's at least 1 in 3. :wink:
 

hopalong

Well-known member
littlejoe said:
Whitewing said:
littlejoe said:
I find it highly gratifying to have had a hand in this.

As opposed to stalking on an ag chat board, waiting for a member to post so I can call him a liar, drunk, etc.

As opposed to being a racist, a bully, a coward, and/or blindly following a political party and/or religious creed.

As opposed to trying to feel good about myself by tearing others down.

Just might be a good day for some of you dopes to wake up.

Well, here's my 2 cents.

Everytime you claim hoppy is mentally-challenged or lives in cargo container, you're being a bully and every time you call George Bush a liar but refuse to support your assertions with any kind of valid link or argument, you're being a coward and trying to make yourself feel good by tearing him down.

And the fact that you sound so much like OT is really, well, just plain creepy.

hola whitey. hoppy posted cargo container as address. I didn't. I don't recall saying he's mentally challenged, but now that you point it out, it is obvious, ain't it? I don't think I said bush lied. although if not, I shoulda, about weapons mass destruction so consider I did. I did say he was coward and draft dodger. also incompetent. a link? go to yougottabeshittinme.com

gracias---but I got lotsa things to feel good about. so ya' missed there. hey---one of them is I know how to adjust a square baler and sharpen knives so my bales ain't all ratty. I also know how to efficiently load a truck. ya oughta spend yer two cents on basic knowledge afore ya start flapping your jaws at me. the fact that all you anti ot dopes sound like clones I find 'creepy'--lol. ps---tomorrows a new day---not too late for some heads to get yanked outa asses--lotsa nylon tow ropes around.............

LIL?JOE you mean this cargo container????

http://www.marana.com/index.aspx?NID=329


Makes you look even dumber EH this was posted for you to see on MAY 12 2014

Guess your reading skills leave much to be desired :wink: :wink:
 

mrj

Well-known member
A quick look at the Marana, AZ website shows an interesting, active community actively caring for the citizens (Habit for Humanity), interested in their history way back to the ancient cliff dweller types, providing for recreation and other community amenities.

Might be a more interesting diversion for us than some of our usual activities on this thread...........

mrj
 

littlejoe

Well-known member
mrj said:
A quick look at the Marana, AZ website shows an interesting, active community actively caring for the citizens (Habit for Humanity), interested in their history way back to the ancient cliff dweller types, providing for recreation and other community amenities.

Might be a more interesting diversion for us than some of our usual activities on this thread...........

mrj

Yup. I'll probably be there for the mineral show, about middle of feb. Maybe i'll let ground loop pet my private multi go fast.....if'n I can dislodge him from his container!
 

littlejoe

Well-known member
okey doke, hoppy----i'll tell ya' one of my maybe next moves, you can choose not to believe it, and---so you won't be totally empty handed---- i'll throw ya a couple big macs when I come down to the show----which sets the standard for the whirld, kudos tuscon!

the Herbert glacier is about 50 miles outa Juneau and is basically virgin territory, gold exploration wise.

how can that be, you snivel?

ever hear of global warming? despite evidence to the contrary, you are stoopid enuf to be a denier, n'cest pas?

anyway, believe it or don't, the glacier has retreated to the point that mucho never seen inneresting 'stuff' is exposed.

the 'mother lode' has been discovered long ago in California.

it has not up north.

I think I know where it is.

yes, I am long time pilot and multiple aircraft owner.

very interested in aviation--but I got lotsa innerests.

love flying rotarys, but refuse to own something I gotta work on more than I operate. so I don't got no Harleys either.

thru aviation, I happen to know an ol' boy who is director of helijet.

helijet some time ago bought out parta Vancouver island helicopters, founder by boeing jr, et al. them ol' boys wanna head south and focus on gulf.

now this ol boy I mentioned is also a director of a little co that owns what I perceive to be possibly one of the most intriguing gold plays on the planet. near the Herbert glacier.

plus---it's got a brownfield deal on the island that's got heaps of magnetite that I think the running out of from trail b.c. mine will make plum profitable and I happen to know the end users of said byproduct.

I think i'll take a run @ said little co, that like most jrs it's trading at miniscule % of value. I will tender about 4x current market cap to make acquisition short and sweet.

it's hotter than avg where I am at the moment and I am about Kelly down on a box of kokanee, hence the generosity, plus I think you are far too stupid to do anything about it anyhow. Have a sweet afternoon and did you clean up your mess in the container when I instructed you to? attaboy!
 

hopalong

Well-known member
have rack in the dumpster just for you lil/oldtimer :D :D Even has a hot air blower to dispense with all the hot air coming from you
 
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