U.S. Ousts Russia as Top World Oil, Gas Producer in BP Data
Source: Bloomberg
The U.S. has taken Russias crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from Americas shale fields.
U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according to BP Plcs 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 thats helped the worlds largest economy reduce imports, caused a slump in global energy prices and shifted the countrys foreign policy priorities.
In the U.S., the boom in oil and gas production has started to change the economy profoundly. Cheap fuel has seen manufacturing return to the U.S. as the country produced about 90 percent of the energy it consumed last year.
Read more: http://www.bloomberg.com/news/articles/2015-06-10/u-s-ousts-russia-as-world-s-top-oil-gas-producer-in-bp-report
Dont call me Shirley
(10,998 posts)SoapBox
(18,791 posts)To our oceans, air, drinking water, plantable land...
safeinOhio
(32,729 posts)on Saudi Arabia's policies.
Bossy Monkey
(15,863 posts)Tarheel_Dem
(31,243 posts)If jobs are returning, that may answer the question above...."at what cost"?