Midas Touch: America Becomes the World’s Largest Oil Producer After Overtaking Russia, Saudi Arabia

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For the first time in 45 years, the United States has surpassed Russia and Saudia Arabia in oil production.

Call it the Trump effect, call it the Midas touch.

Under President Donald Trump, America has become the number one producer of oil in the world.

Call it what you want but America, under this president, has become the largest producer of oil in the world.

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Part of President Donald Trump’s magic?

His ability to cut red tape and ease regulations, creating atmospheres that are conducive to producing. Also: Trump doesn’t play the same radical environmentalism game as Barack Obama did.

And now the country is responding with massive business ventures.

More from the Daily Mail:

America has risen to the top the list of oil-producing countries for the first time in more than four decades, analysts believe.

The US overtook Saudi Arabia for monthly crude oil production back in February and likely surpassed Russia some time in June or August, new data shows.

It comes after the development of fracking led to a boom in shale oil production while massively reducing drilling costs.

The figures are based on preliminary estimates published by the US Energy Information Administration last week.

If confirmed, it would mark the first time since 1973 that the US has topped world rankings.

The agency said it expects the US to hold its position at the top of the chart for the remaining months of 2018 and throughout 2019.

After languishing at less than 6million barrels of oil per month between 2000 and 2011, American oil production began rapidly increasing from 2012 onwards.

America’s oil production is up, and continuing to soar.

That figure has now almost doubled in the last six years, though there was a dip between 2014 and early 2016 when the price of crude plunged and oil companies were forced to scale back operations.

At the center of the boom is Texas, and in particular the Permian Basin in the west of the state.

The Lone Star state now produces so much oil that it would be ranked third in the world on its own if it were a country, outstripping the likes of Iraq and Iran.

A change in the law allowing US companies to export crude oil for the first time in 40 years also came into effect in 2015, further boosting production.

Meanwhile, the US has climbed up the rankings in terms of energy security because it relies less on foreign imports to meet its needs.

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Achmed Mohandjob
Achmed Mohandjob
5 years ago

Nah. It’s all due to obimbo’s war on coal and petroleum. Why, every Democrat Party member knows that!

santashandler
santashandler
5 years ago

The biggest oil producer in the world, and our gas prices have gone up in the last couple of months.

Mark Steiner
Mark Steiner
5 years ago
Reply to  santashandler

The price increases will continue until the United States constructs the infrastructure necessary to produce and transport crude oil and refined products into pipelines and ultimately to ports – after we have provided for our our people first. This writer does not see this happening anytime soon. The effort required would take years without decisive action now.

We produce only about 60% of what we consume. Not all American oil stays in America.

Without necessary pipelines, railroads are reaping a windfall in transporting oil by rail – and we are reaping the results of derailments and fires caused by failing rights of way (tracks) and railway rolling stock.

Agriculture interests in North Dakota have had trouble getting railroads to transport their products, because shipping oil is more profitable.

We reap what we sow …

DemocracyRules
DemocracyRules
5 years ago
Reply to  Mark Steiner

Expect US production to double in the next 5 years
– fracking depends heavily upon computers
– and computing power grows according to Moore’s Law
– which predicts that computing power will double every 24 months

DemocracyRules
DemocracyRules
5 years ago
Reply to  DemocracyRules

US Fracking tech
– is probably the most powerful weapon we have
– against totalitarian Islamist regimes
– because we can out-perform their oil monopolies
– and destroy their stranglehold on energy supplies

Mark Steiner
Mark Steiner
5 years ago
Reply to  DemocracyRules

We still need the transportation infrastructure to move all that new production, tho’ …

DemocracyRules
DemocracyRules
5 years ago
Reply to  Mark Steiner

Yes, for sure
– the main need is to get the oil to tidewater
– where it can be shipped in volume to high-demand regions
– Texas is close to the Gulf of Mexico
– but the Bakken oil formation is not

– and Canada has immense reserves
– that are mostly landlocked

Mark Steiner
Mark Steiner
5 years ago
Reply to  DemocracyRules

As recently as February 2015 I worked geology of the Bakken/Three Forks in ND. Too few pipelines and refineries. The big Tesoro refinery in Mandan can only grow so much. Same problem in Billings and South St. Paul. Getting it by rail is risky, and derailments happen because the BNSF and CP are not run by hardened railroaders but by mushy bottoms liners – Wall Street pleasers and appeasers. The right of way can be worn to a steel thread before reconstruction happens. Sorry for beating up railroads as I am a rail fan, but hate to see where the rails have gone since 1968.

DemocracyRules
DemocracyRules
5 years ago
Reply to  Mark Steiner

All true
– and when big investors gobbled up railroads recently
– they did that to get at the oil transportation revenue
– but that means those big investors are opposed to pipelines
– because pipelines undercut their oil transportation revenue
– and lobbyists and enviro groups
– get big money to block pipelines

Suresh
Suresh
5 years ago
Reply to  santashandler

oil short supply is making price go up. Venezuela was dysfunctional and with sanctions by Trump and now on Iran , oil supply has been crimped even more leading to high prices and it can get worse if Trump forces 100% Iran oil cut !

Its Trump’s silly policies on sanctions that is creating prices to go up.

Poptoy1949
Poptoy1949
5 years ago
Reply to  Suresh

BULL$hit !

Suresh
Suresh
5 years ago
Reply to  Poptoy1949

Is that all you can say ? we are waiting for your logic

Poptoy1949
Poptoy1949
5 years ago
Reply to  Suresh

Oh, You wanted more. OK, here you go.comment image

Suresh
Suresh
5 years ago
Reply to  Poptoy1949

expected. typical

Fred Alexander
Fred Alexander
5 years ago
Reply to  Suresh

Suresh..Saudi Arabia and Russia have made up for the loss from Iran.

Suresh
Suresh
5 years ago
Reply to  Fred Alexander

you are living in cuckooland. They cannot.
venezuela is out too

CharlieSeattle
CharlieSeattle
5 years ago
Reply to  santashandler

Uhh, The 40 year old Oil Export Ban was removed by Congress…and for what strategic purpose??, to export most of it.

felix1999
felix1999
5 years ago

NOW you know why Obama preventing FRACKING and other methods of extracting oil!
He wanted us dependent on Muslims.

Suresh
Suresh
5 years ago
Reply to  felix1999

Agree. Crooks and pro-jihadi criminals all around.

CNN and MSM canonises Mc Cain while Egyptian media expose him for being Leading supporter of Muslim Brotherhood in America and Middle east https://tinyurl.com/y9hk3dpk

Its absurd and farcical how MSM Lies and brainwashes American citizens

Dan Knight
Dan Knight
5 years ago

Good news … unfortunately few will hear of it from the enemedia.

IzlamDownpressesHumanity
IzlamDownpressesHumanity
5 years ago

Then why are gas prices at nearly $3.50 a gallon in Caliphornia?

usn
usn
5 years ago

3.80 in NJ

IzlamDownpressesHumanity
IzlamDownpressesHumanity
5 years ago
Reply to  usn

I never thought there could be anyplace in the US that would have higher gas prices than Caliphornication. I’m sorry I’m wrong too, you have my sympathies.

R. Arandas
R. Arandas
5 years ago

Better us than Saudi Arabia or Iran, that’s for sure.

Philip
Philip
5 years ago

I want to get one of those boats that kid survived on for 59 days. Watching him get rescued REALLY made me feel good.

usn
usn
5 years ago

Why are we buying oil from OPEC?

Alleged-Comment
Alleged-Comment
5 years ago

I thought we had no oil?? Prices should come down by HALF then? It’s still the same gawdamn price.

Roma Mikhasev
Roma Mikhasev
5 years ago

Great news!!

CharlieSeattle
CharlieSeattle
5 years ago

Failing old legacy wells about to run out. We should save it for our use.
Deep off shore wells far out to sea. We should save it for our use.
Fracking the last reserves in the lower 48. We should save it for our use.
Opened the last untouched arctic national refuge. We should save it for our use.

…but what did Congress do?

Oil Export Ban removed by Congress…and for what strategic purpose??, to export most of it??? That is criminal! Energy independence was NOT the goal here.

I have an idea, let’s use up our arab enemies oil first, while the world price is low. Let’s save our last domestic reserves of oil and gas in the USA and Canada as a strategic resource for the next 200 years.

Prices in the US initially dropped because of self serving Saudi price cuts designed to destroy our domestic tar sand and fracking oil and gas suppliers. World oversupply and lower demand helped also. Prices have risen in the last year.

Canadian oil sand and gas reserves that cannot be torpedoed off shore are good to keep for the future of the United States as a “Strategic” resource. It should not be sold off now to Communist China and the EU.

But Alas, current greedy short term corporate profits trump patriotism and long term national security concerns once again.

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