Did you know that the U.S. is the world’s largest oil producer?
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After the trip to climate never-never land in Poland, back in the real world the US is producing record amounts of energy right out of the ground.
Do most people recognize that the United States has recently become the world’s largest oil producer? We have passed both Saudi Arabia and Russia as U.S. crude production has surged 20% in a year – and nearly tripled in the past decade. For nearly sixty years, OPEC has dominated the world’s oil markets by setting production quotas among its 15 members. In 2014, OPEC flooded the market with oil to try to break U.S. drillers who were pouring cash into innovation while they were already in debt. Seems like we knew what we were doing.
As oil prices fell below $40 a barrel in 2015 and 2016, many wildcatters folded or were absorbed by larger producers. The survivors became more efficient. They put technology to work, using drones with thermal imaging to detect any leaks along the line. Productivity went up. Over just the last five years, production per rig…
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Source: https://tallbloke.wordpress.com/2018/12/17/did-you-know-that-the-u-s-is-the-worlds-largest-oil-producer/
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