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[Feral Cat]

 The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields.

U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according to BP Plc’s Statistical Review of World Energy released on Wednesday. Gas output also climbed, putting America ahead of Russia as a producer of the hydrocarbons combined.

The data showing the U.S.’s emergence as the top driller confirms a trend that’s helped the world’s largest economy reduce imports, caused a slump in global energy prices and shifted the country’s foreign policy priorities.

“We are truly witnessing a changing of the guard of global energy suppliers,” BP Chief Economist Spencer Dale said in a presentation. “The implications of the shale revolution for the U.S. are profound.”

The other major shift BP’s report shows is China’s energy demand growing at the slowest pace since the Asian financial crisis of the late 1990s as the economy slows and the country tries to reduce its reliance on heavy industry.

“Growth in some of China’s most energy-intensive sectors, such as steel, iron and cement -- which had thrived during China’s rapid industrialization -- virtually collapsed in 2014,” said Dale, a former Bank of England chief economist who joined BP last year.

http://www.bloomberg.com/news/articles/2015-06-10/u-s-ousts-russia-as-world-s-top-oil-gas-producer-in-bp-report

[aag]

Може б сюди це? Всерівно in english. Just asking...

http://ukrpravda.net/index.php?topic=31624.msg926655#msg926655

[Sergius]

чудово, тепер почекаємо на початок американскьго експорта газу до Європи 

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[Feral Cat]

http://www.washingtonexaminer.com/article/2566006?utm_content=buffer42426&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

The last officials have left Vienna after the Organization of the Petroleum Exporting Countries, or OPEC, summit on June 5. The shock waves from their historic decision to maintain oil production at current levels continue, and will resound for a long time — but not in the way they hoped.

Thanks to the U.S. shale oil revolution, the world has witnessed a glut of oil and a year-long drop in global prices — almost 50 percent from last May. So oil ministers from Saudi Arabia, Iran, Venezuela and other OPEC members are betting that by continuing production at 30 million barrels a day they can keep that global crude price down at a level where producers in places like the Bakken field in North Dakota and Eagle Ford in Texas, can't make a profit.

After all, the American shale boom started with prices in the $80-100 barrel range. Saudi Arabia can still make money pumping oil at $5 a barrel. Most other OPEC countries would prefer a higher price than the current $65 or so a barrel to keep their one-product economies going, but they've acquiesced with the Saudi plan to use low prices to squeeze those U.S. producers out of the fracking business, and restore OPEC's dominance of the global oil market.


........

Like the marathon runner, OPEC can run farther — that is, pump more conventional oil. But it can't go much faster, even though the oil market increasingly belongs to the quick and the strong.

The result, ironically, is that when OPEC tries to shove the price lower it only forces U.S. energy companies to do what they do — use technology to increase production and lower costs. This means the fracking revolution will only gather more momentum.

So in the end, it's OPEC, not American shale, that's on the fool's errand.

If OPEC really wants to make a dent in U.S. energy production, the best way is to invest in the U.S. environmental lobby, which is on an anti-fracking crusade that owes more to fanaticism than science. This is what Vladimir Putin has done with the green movement in Europe, to halt fracking there, and what Qatar recently did with its sponsorship of Hollywood's best known anti-fracking movie, Matt Damon's "Promised Land."

But until the Sierra Club opens its new headquarters in Riyadh, look for U.S. shale oil production to continue to sprint ahead, with America's dominance of world's energy markets as the finish line.