Friday, January 3, 2014

US is now world’s top oil supplier — PIRA



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.

No comments: