Houston Chronicle: U.S. passes Russia to become world's biggest oil producer
U.S. oil production broke 11 million barrels a day for the first time ever and surpassed Russia, making the United States the world's largest oil producer, according to the Department of Energy.
The milestone was announced Thursday as the Energy Department said oil production hit 11.3 million barrels a day in August, pushing past the Russian Ministry of Energy's August estimate that Russia's production was 11.2 million barrels a day.
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WNU Editor: This is an amazing story. New technologies make gas and oil recovery easily available, and de-regulation makes it cheaper to extract it ... Chevron profit doubles as U.S. oil production jumps, shares rise (Reuters). This increased production has led to increased jobs, fewer imports to meet US needs, a lower trade deficit, and cheaper energy. The geopolitical implications also cannot be underestimated .... U.S. Oil Production Allows America to Crack Down on Iran (NRO). And talk about timing for the Republicans, this is all happening before the midterms .... U.S. And OPEC Flood Oil Market Ahead Of Midterms (OilPrice.com). This U.S. oil boom is also going to continue for the rest of the year .... U.S. Oil To Significantly Outperform This Year (OilPrice.com), and even more so when the when the infrastructure for getting the Permian Basin oil to market is complete by 2020.
