US is now world’s top oil supplier — PIRA
Reuters
Published — Wednesday 16 October
2013
Pump jacks are seen in the Midway
Sunset oilfield, California in this April 29, 2013 file
photo. The United States has
become the world’s biggest oil producer as the jump in output from shale,
according to leading US
energy consultancy PIRA. (Reuters)
The United
States has overtaken Saudi Arabia to
become the world’s biggest oil producer as the jump in output from shale plays
has led to the second biggest oil boom in history, according to leading US
energy consultancy PIRA.
US output, which includes natural gas liquids and biofuels,
has swelled 3.2 million barrels per day (bpd) since 2009, the fastest expansion
in production over a four-year period since a surge in Saudi Arabia’s
output from 1970-1974, PIRA said in a release on Tuesday.
It was the latest milestone for
the US
oil sector caused by the shale revolution, which has upended global oil trade.
While still the largest consumer of fuel, the rise of cheap crude available to
domestic refiners has turned the United States into a significant
exporter of gasoline and distillate fuels.
Last month, China surpassed the United
States as the largest importer of crude, according to the
US government, as the rise
of domestic output cuts the US
dependence on overseas oil.
“(The US) growth rate is greater
than the sum of the growth of the next nine fastest growing countries combined
and has covered most of the world’s net demand growth over the past two years,”
PIRA Energy Group wrote.
“The US position as the largest oil
supplier in the world looks to be secure for many years,” it added.
Total liquids produced by the United States, which PIRA defined broadly to
include supplies such as crude oil, condensate, natural gas liquids and
biofuels, should average 12.1 million bpd in 2013, pushing it ahead of last
year’s No. 1 supplier, Saudi
Arabia.
Output from the OPEC state also rose last year, but the
gains lagged those from the United
States, the consultancy said.
PIRA said the increase in oil from
shale, which has been centered in areas such as Eagle Ford in Texas and the
Bakken in North Dakota, has seen US supply grow by 1 million bpd in 2012 and
again 2013.
The United
States still lagged both Saudi
Arabia and Russia in production of just crude
oil by abut 3 million bpd, PIRA noted. Rounding out the top 10 oil suppliers
were China, Canada, UAE, Iran,
Iraq, Kuwait, and Mexico.
California
Gasoline Statistics & Data
December 30, 2013 - Returning to
the upward climb for a second week. Regular has jump above last week's price by
several cents.
The average price in California for regular
gasoline increased 5.3-cents from the previous week. The average statewide
price for regular was $3.647. Mid-grade and premium prices increased as well.
The national average for
self-serve regular is at $3.331, up 6 cents from the previous week.This is 31.6
cents lower than the price of regular in California.
Note: Saudi Arabia is
a member country of the Organization of
the Petroleum Exporting Countries (OPEC).
United Arab
Emirates is a member country of the Organization
of the Petroleum Exporting Countries (OPEC).
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for the United
Arab Emirates, and the Shell Oil Company.
Eugene J. Voiland
was an executive consultant for the Shell
Oil Company, and is a leadership council member for California Forward.
Vernon E. Jordan Jr. is a senior
counsel for Akin, Gump, Strauss, Hauer
& Feld, LLP, an honorary trustee at the Brookings Institution (think
tank), Valerie B. Jarrett’s
great uncle, a director at the American Friends of Bilderberg (think
tank), and a 2008 Bilderberg conference participant (think tank).
Cyrus F.
Freidheim Jr. is an honorary trustee at the Brookings Institution (think tank), a member of the Commercial Club of Chicago.
Valerie B. Jarrett
is Vernon E. Jordan Jr’s great niece, the senior
adviser for the Barack Obama
administration, and a member of the Commercial
Club of Chicago.
Kathleen
Brown is a member of the Commercial
Club of Chicago, Jerry Brown’s
sister, and was the California state government treasurer.
Jerry
Brown is Kathleen Brown’s
brother, the California state government governor, and Nancy E. McFadden is his executive secretary for legislation.
Nancy E. McFadden
is Jerry Brown’s executive secretary
for legislation, and was a director at the Apollo
Alliance.
Robert
Redford was a director for the Apollo
Alliance, the founder & president for the Sundance Institute, and a trustee at the Natural Resources Defense Council.
Foundation
to Promote Open Society was a funder for the Brookings Institution (think tank), the Sundance Institute, and the Natural
Resources Defense Council.
George Soros
is the chairman for the Foundation to Promote Open Society.
Cruz
Reynoso was a trustee at the Natural
Resources Defense Council, is a leadership council member for California Forward, and a professor at
the University of California at Davis.
James J.
Duderstadt is the chancellor's advisory board member for the University of California at Davis, and
a senior fellow at the Brookings
Institution (think tank),
Vernon E. Jordan Jr. is an honorary
trustee at the Brookings Institution (think tank), Valerie B. Jarrett’s great uncle, a director at the American
Friends of Bilderberg (think tank), a senior counsel for Akin, Gump, Strauss, Hauer & Feld, LLP,
and a 2008 Bilderberg conference participant (think tank).
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for the United
Arab Emirates, and the Shell Oil Company.
Eugene J. Voiland
was an executive consultant for the Shell
Oil Company, and is a leadership council member for California Forward.
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