Post by Alan Baker Post by Lynn McGuire
"GREAT AGAIN: USA Is Now The Largest Global Crude Oil Producer –
Surpasses Russia and Saudi Arabia"
"The United States likely surpassed Russia and Saudi Arabia to become
the world’s largest crude oil producer earlier this year, based on
preliminary estimates in EIA’s Short-Term Energy Outlook (STEO)."
How does that make one "great again"?
You only produce more crude than Saudi Arabia because it CHOOSES to let you.
Because Texas was the number one producer of oil until 1960 or so.
Texas dropped to 3 ? 2 ? million barrels/day in the 1990s but is back up
to 7 million barrels/day and heading to 8 ? 9 ? 10 ? million barrels/day
in a year or two if the infrastructure issues get solved (new
pipelines). When you add in the half million barrels/day in Alaska plus
the other producer states such as OK, LA, CA, AL, PA, UT, and AK, there
is another four to five million barrels/day.
Saudi Arabia is producing at 11 million barrels/day the last time I
looked. About 3 million barrels/day is used internally and that usage
is growing. The real problem is that Ghawar is just about tapped out.
Their excellent management and pressure support of Ghawar has allowed it
to last this long but some day soon (1 to 20 ??? years), all of the
wells will convert to water. Aramco let it slip a couple of years ago
that they are now operating 82 GOSPs (gas-oil separation plant) now in
support of Ghawar. Simply amazing.