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Title : The US Is Already The Swing Producer -- And The Most Responsive Producer -- February 15, 2018
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The US Is Already The Swing Producer -- And The Most Responsive Producer -- February 15, 2018

Updates

Later, 11:51 a.m. CT: I posted the article and then read it as I often do. I scanned it first, and then read it line by line, highlighting throughout, re-paragraphing, and then archiving.

This may be simply the best article all week -- all month? all year? -- putting global energy into perspective. It touches on the US, Saudi Arabia, Russia, China, all in one very concise article.

A huge "thanks" to the reader who sent this to me. It's behind a paywall, but googling key opening phrase and it can be found in full.

If you have time to read but one article on global energy this week, this would be the article. 

When you read this article, imagine the headlines it would generate in the US if it were Russia or if it were China or if it were Saudi Arabia or Venezuela or Canada that were in the position that the US currently finds itself. This is an incredible story. It began with the Bakken revolution.

I have a lot of fun reading comments of "peak oil" proponents at other news sites and blogs and this article really has to give "peak oil" folks pause to think, assuming of course, they pause to think.

The interesting thing: for the most part this article is mostly about crude oil, and to some extent natural gas. But it doesn't even touch upon the other almost boundless energy source the US has if push comes to shove one hundred years from now: coal.

Also, not talked about in this article, the US is know for:

• keeping its promises when working energy deals and delivery contracts
• being politically stable
• being fair and balanced in the business world
• being very, very transparent

Of course, folks will dispute that, and take that out of context. "Fair and balanced"; and, "transparency" in the business world is relative. 

What a great entrepreneurial country.

Disclaimer: in a long note like this, there will be typographical and factual errors. In addition, I am having some difficulty seeing the screen due to glare from the sun. What a beautiful day in north Texas.

The other thing not mentioned in this article is how precarious the situation is in Saudi Arabia. I won't live to see it, but all indications are that Saudi Arabia will be a net importer of oil in less than twenty years, and unlike Russia, oil is Saudi's only source of revenue. 
 

Original Post

 

Richard Zeits opined on this (posted earlier) and RBN Energy has suggested much the same (posted at various times), so it's interesting to see the timing of this Financial Times article (sent to me by a reader, thank you):

US runaway crude oil production and total oil export growth is having dramatic impacts on global oil markets, positioning the US to be the major oil export hub in the world. No doubt there is much brouhaha over the US overtaking Saudi Arabia and Russia sometime this year as the largest crude oil producing country in the world.

But the fact is that it is already the world’s largest total producer of liquids, now marketing close to 15.5m barrels a day including crude oil, bio fuels and natural gas liquids.

By year-end, total US oil liquids output should be well over 50 per cent higher than either Russia or Saudi Arabia.

Also by this time next year, the US should add over 1m b/d not only to production, but also to exports, with total liquids exports at over 8.3m b/d, larger than either Russia or Saudi Arabia.

So much more at the article but that's all I will post. Will be archived, I'm sure. 

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