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US set to become BIGGEST oil producing nation

OPEC supplier Saudi Arabia also increasing crude production, but US set to overtake due to tremendous development in shale oil extraction

Seraphim Hanisch

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For decades, the common thought about the United States was that its glory days of being the number one producer of oil were long over. Indeed, the current narrative in the US about gas prices is usually based on the uptick or downtick of suppliers from the OPEC cartel.

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A report from the Bloomberg news service on July 11 indicated a surprising prediction: that the US is set to become the world’s largest oil producing nation once again:

The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play.

The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook.

“In 2019, EIA forecasts that the United States will average nearly 12 million barrels of crude oil production per day,” said Linda Capuano, Administrator of the EIA. “If the forecast holds, that would make the U.S. the world’s leading producer of crude.”

U.S. crude output has remained above the 10-million-barrel a day mark since February. That’s while Saudi Arabia told OPEC it pumped about 10.5 million barrels of crude a day last month as the kingdom sought to cap rallying prices by ramping up output, according to people familiar with the matter.

Concerns linger over the worsening bottleneck in the biggest U.S. shale region, the Permian Basin, and how that might affect domestic output in the second half of the year. Due to limited pipeline transportation in the region, production may start to slow in the area, according to Scott Sheffield, the chairman of Pioneer Natural Resources Co. “We will reach capacity in the next 3 to 4 months,” he said in June.

The EIA left its average domestic output forecast for this year unchanged at 10.79 million barrels a day, above the 1970 record of 9.6 million a day, according to the agency’s Short-Term Energy Outlook released on Tuesday. Its global crude production forecast for next year was raised to 102.54 million barrels a day from a previous forecast of 102.21 million a day. The agency’s world demand growth estimate for 2019 was lowered.

EIA revised forecast for US crude oil output into 2019.

This news has gotten international attention, since oil is such an extremely important commodity. China’s Xinhua news network also remarked on this prediction:

The Organization of the Petroleum Exporting Countries (OPEC) crude oil production averaged 31.9 million barrels per day in June.

Although the OPEC and non-OPEC participants agreed on November last year to extend the production cuts through the end of 2018 in order to reduce global oil inventories, tightening market conditions led the group to relax the production cuts starting this month.

EIA expected that OPEC crude oil output will decrease by less than 0.1 million barrels per day on average in 2019, which reflects crude oil production increases from some producers that mostly make up for expected declines of more than 1.0 million barrels per day in Iran and Venezuela combined.

Meanwhile, EIA forecasts that total U.S. crude oil and petroleum product net imports will fall from an annual average of 3.7 million barrels per day in 2017 to an average of 2.4 million barrels per day in 2018 and to an average of 1.6 million barrels per day in 2019, which would be the lowest level of net imports since 1958.

This prediction amounts to a greater than 50% reduction in oil imported to the US, and this also marks a major step towards the vaunted goal of American energy independence.

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John MasonHamletquesthestroyNicole Templepaz_y_justicia Recent comment authors
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John Mason
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John Mason

Obviously the US doesn’t care about the environmental damage fracking creates and when the US can’t produce any safe agriculture and their meat industry is also polluted then what. Invade other countries and turn their territory into a lunar landscape? The global community needs to resist this shale oil from the US because in the long run when the US runs out of shale then who is the next victim?

Hamletquest
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Hamletquest

Yes. The future’s bleak the future’s fracking orange. With Agent Orange telling the Germans to buy more US LNG and pay more for the pleasure of that and the Empires increased tribute payments up 100% to 4% of GDP for NATO cover. Which has always translated to paying for the privilege of making yourself a target shield for Uncle Sam. Welcome to the Hotel POTUS where deals are made and dreams [well they’re for the rich] he sure knows how to strike a tariff deal. All those really low paid sweatshop jobs coming home from China? While the cheep stuff… Read more »

hestroy
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hestroy

This article has very poor quality. Repeating of official propaganda.

Nicole Temple
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Nicole Temple

Here is an interesting look at the link between Big Banking and Big Oil:

http://viableopposition.blogspot.ca/2018/05/how-banks-invest-in-dirty-energy.html

Despite their protestations and promises to reduce their carbon footprint, the global banking sector has not shied away from lending to projects that will increase the global output of extreme fossil fuels, including shale oil, that are responsible for increased greenhouse gas output.

paz_y_justicia
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paz_y_justicia

THE SHALE OIL PONZI SCHEME EXPLAINED: How Lousy Shale Economics Will Pull Down The U.S. Economy

Few Americans realize that the U.S. economy is being propped up by the Shale Oil Industry. However, the shale oil industry is nothing more than a Ponzi Scheme, so when it collapses, it will take down the U.S. economy with it. Unfortunately, the reason few Americans understand how lousy the economics are in producing shale oil and gas is due to the misinformation and propaganda being put out by the industry and energy analysts.

ghartwell
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American energy independence means that they can leave the rest of the world alone and still maintain their auto-driving life style, run their air conditioners and leave the lights on.

Daisy Adler
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Daisy Adler

So what?
US consumes more energy than it produces.
In 2018, the US exports 7,818,000 barrels per day, but imports 10,312,000 barrels per day.
Deficit: 2,494,000 barrels per day
https://www.eia.gov/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_4.htm

Charles Pettibone
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Charles Pettibone

I’m glad The Duran posted this article. It’s good to see a piece favorable to the US, as an American nationalist who admires Russia and Putin and wants to see a restrained foreign policy predicated on realism and national interest rather than liberal ideology. Unfortunately, on the international scene, I see many folks conflating US foreign policy since 2001 with the US as a nation. America is a great nation and Americans love their nation just like Russians and Chinese love theirs. What Americans want is a healthy and productive economy with a long future. It’s odd to see Duran… Read more »

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Trump Has Gifted “No More Wars” Policy Position To Bernie Sanders (Video)

The Duran Quick Take: Episode 148.

Alex Christoforou

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RT CrossTalk host Peter Lavelle and The Duran’s Alex Christoforou discuss how US President Donald Tump appears to have ceded his popular 2016 ‘no more wars’ campaign message and policy position to Bernie Sanders and any other US 2020 candidate willing to grad onto a non-interventionist approach to the upcoming Democrat primaries.

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“Is Bernie Stealing Trump’s ‘No More Wars’ Issue?” by Patrick J. Buchanan…


The center of gravity of U.S. politics is shifting toward the Trump position of 2016.

“The president has said that he does not want to see this country involved in endless wars… I agree with that,” Bernie Sanders told the Fox News audience at Monday’s town hall meeting in Bethlehem, Pennsylvania.

Then turning and staring straight into the camera, Bernie added:

“Mr. President, tonight you have the opportunity to do something extraordinary: Sign that resolution. Saudi Arabia should not be determining the military or foreign policy of this country.”

Sanders was talking about a War Powers Act resolution that would have ended U.S. involvement in the five-year civil war in Yemen that has created one of the great humanitarian crises of our time, with thousands of dead children amidst an epidemic of cholera and a famine.

Supported by a united Democratic Party on the Hill, and an anti-interventionist faction of the GOP led by Sens. Rand Paul and Mike Lee of Utah, the War Powers resolution had passed both houses of Congress.

But 24 hours after Sanders urged him to sign it, Trump, heeding the hawks in his Cabinet and National Security Council, vetoed S.J.Res.7, calling it a “dangerous attempt to weaken my constitutional authorities.”

With sufficient Republican votes in both houses to sustain Trump’s veto, that should be the end of the matter.

It is not: Trump may have just ceded the peace issue in 2020 to the Democrats. If Sanders emerges as the nominee, we will have an election with a Democrat running on the “no-more-wars” theme Trump touted in 2016. And Trump will be left defending the bombing of Yemeni rebels and civilians by Crown Prince Mohammed bin Salman of Saudi Arabia.

Does Trump really want to go into 2020 as a war party president?

Does he want to go into 2020 with Democrats denouncing “Trump’s endless wars” in the Middle East? Because that is where he is headed.

In 2008, John McCain, leading hawk in the Senate, was routed by a left-wing first-term senator from Illinois, Barack Obama, who had won his nomination by defeating the more hawkish Hillary Clinton, who had voted to authorize the war in Iraq.

In 2012, the Republican nominee Mitt Romney, who was far more hawkish than Obama on Russia, lost.

Yet, in 2016, Trump ran as a different kind of Republican, an opponent of the Iraq War and an anti-interventionist who wanted to get along with Russia’s Vladimir Putin and get out of these Middle East wars.

Looking closely at the front-running candidates for the Democratic nomination of 2020 — Joe Biden, Sanders, Kamala Harris, Beto O’Rourke, Pete Buttigieg, Elizabeth Warren, Cory Booker — not one appears to be as hawkish as Trump has become.

Trump pulled us out of the nuclear deal with Iran negotiated by Secretary of State John Kerry and reimposed severe sanctions.

He declared Iran’s Islamic Revolutionary Guard Corps a terrorist organization, to which Iran has responded by declaring U.S. Central Command a terrorist organization. Ominously, the IRGC and its trained Shiite militias in Iraq are in close proximity to U.S. troops.

Trump has recognized Jerusalem as Israel’s capital, moved the U.S. Embassy there, closed the consulate that dealt with Palestinian affairs, cut off aid to the Palestinians, recognized Israel’s annexation of the Golan Heights seized from Syria in 1967, and gone silent on Bibi Netanyahu’s threat to annex Jewish settlements on the West Bank.

Sanders, however, though he stands by Israel, is supporting a two-state solution and castigating the “right-wing” Netanyahu regime.

Trump has talked of pulling all U.S. troops out of Syria, Iraq and Afghanistan. Yet the troops are still there.

Though Trump came into office promising to get along with the Russians, he sent Javelin anti-tank missiles to Ukraine and announced a pullout from Ronald Reagan’s 1987 INF treaty that outlawed all land-based intermediate-range nuclear missiles.

When Putin provocatively sent 100 Russian troops to Caracas — ostensibly to repair the S-400 anti-aircraft and anti-missile system that was damaged in recent blackouts — Trump, drawing a red line, ordered the Russians to “get out.”

Biden is expected to announce next week. If the stands he takes on Russia, China, Israel and the Middle East are more hawkish than the rest of the field, he will be challenged by the left wing of his party, and by Sanders, who voted “no” on the Iraq War that Biden supported.

The center of gravity of U.S. politics is shifting toward the Trump position of 2016. And the anti-interventionist wing of the GOP is growing.

And when added to the anti-interventionist and anti-war wing of the Democratic Party on the Hill, together, they are able, as on the Yemen War Powers resolution, to produce a new bipartisan majority.

Prediction: By the primaries of 2020, foreign policy will be front and center, and the Democratic Party will have captured the “no-more-wars” political high ground that Candidate Donald Trump occupied in 2016.

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Over 200 killed, hundreds injured in series of blasts at Sri Lankan hotels & churches

A series of bombings hit churches and hotels across Sri Lanka on Easter Sunday, killing more than 200 people.

RT

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Via RT…


A series of eight explosions rocked Catholic churches and luxury hotels in Sri Lanka as Christians began Easter Sunday celebrations, with over 200 killed and hundreds injured, media reported, citing police.

The blasts started at around 8:45am local time at St. Anthony’s Church in Colombo and St. Sebastian’s Church in Negombo, a Catholic-majority town outside of the capital. The Zion Church in Batticaloa on the eastern coast was also targeted. At around the same time, the Shangri-La, Cinnamon Grand and Kingsbury five-star hotels were also hit, police confirmed.

Two more explosions happened later in the day, targeting two more locations in Colombo. All attacks appear to have been coordinated.

At least 207 people were killed, Reuters reported, citing police. More than 450 were injured in the attacks.

Alleged footage of the aftermath, shared on social media, showed chaos and large-scale destruction inside at least one of the churches.

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Mike Pompeo reveals true motto of CIA: ‘We lied, we cheated, we stole’ (Video)

The Duran Quick Take: Episode 147.

Alex Christoforou

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The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris take a look at a Texas A&M University speech, and subsequent interview, with US Secretary of State Mike Pompeo.

The former CIA Director admitted, ‘as an aside’ to the question asked, that the Intelligence agency he headed up before being appointed as the top US Diplomat had a motto “we lied, we cheated, we stole”…which, according to Pompeo, contained entire CIA training courses based on ‘lying, cheating and stealing.’

Pompeo finally speaks some truth.

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