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trinidadtiger
Member since Jun 2017
8068 posts

re: 2019- United States was the largest oil producer in the World
quote:

Had no idea we were number 1. FJB


And far and away the largest natural gas producer. Those lng boys on the coast be eatin these days. I know a lot of their volume is contract, but any excess is making coin in the export market these days.


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TheRouxGuru
US Army Fan
Member since Nov 2019
3116 posts

re: 2019- United States was the largest oil producer in the World
quote:

Had no idea we were number 1. FJB


Bro, gas was like $1.85 a few years ago


Chazreinhold
Utah St. Fan
Utah
Member since Oct 2020
2484 posts

re: 2019- United States was the largest oil producer in the World
quote:

Bro, gas was like $1.85 a few years ago


And what is it now? The Skyrocket in prices just happened to be a coincidence after Jalopy Joe was installed and went through with the Marxist war on Fossil fuels.

Image: https://c.tenor.com/JyUXn-ta4DcAAAAC/dr-evil-evil-laugh.gif


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Dday63
Mississippi St. Fan
Member since Sep 2014
1247 posts

re: 2019- United States was the largest oil producer in the World
We are still energy independent. The US has been a net exporter of petroleum products since November, 2019, and that trend has continued. So far in 2021, the US is still the world's leader in oil production, with Russia second.

But OPEC still controls the price of oil. That won't change.

Biden's policies will no doubt hurt US oil producers in the future, but these measures are not currently affecting price at the pump.


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Big Scrub TX
LSU Fan
Member since Dec 2013
26467 posts

re: 2019- United States was the largest oil producer in the World
quote:

anyone want to take a shot at what happened to cause that big dip in early 2020?
Look more closely - it was covid (March/April) - you know, when oil briefly traded at -$37/barrel?

The OP doesn't even say what our rank is now.


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Big Scrub TX
LSU Fan
Member since Dec 2013
26467 posts

re: 2019- United States was the largest oil producer in the World
quote:

Also, we have never produced 17 mmbpd
That was self-evident from the other chart where it said we were done 200K per day from like 12 million.

All kinds of misinformation in this thread.


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Bulldogblitz
Mississippi St. Fan
In my house
Member since Dec 2018
21613 posts

re: 2019- United States was the largest oil producer in the World
quote:

Who cut regulations and unleashed the US Fossil fuels industry? 


Brandon did that.

Oh wait....nevermind


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CitizenK
McNeese State Fan
BR
Member since Aug 2019
3229 posts

re: 2019- United States was the largest oil producer in the World
London based, never heard of them before. Likely misprint was BOE/day not BPD, which includes natural gas not actual legal oil. Saudi Arabia produces only enough natural gas to make electricity and use as burner fuel for fired heaters in refineries/chemical plants and in iron reduction plants to turn iron ore into iron pellets for its steel mills (yes it has steel mills)

More like around just shy of 13 million BPD in 2019 It had been steadily rising since 2008 and rise like a mofo during both Obama and Trump.

Imports (except from Canada which rose like crazy) dropped like a mofo from 2007 to recently.

That being said, ALL companies all but stopped drilling in 2020 after Covid hit. Budgets are planned ahead of time with an actual strategy so there was little budgeted for 2021 especially with Biden putting oil/gas in his crosshairs with his first EO's and rhetoric.

HOWEVER, drilling for 2022 is budgeted to be balls to the walls, and for 5 years running should prices maintain.

For refining you need to understand that some of this new production is way light for refineries to use unless blended with heavy crude. They would go bankrupt with refining capacity reduced significantly due light ends in this gassy stuff. That is why refineries which were using Libyan crude really hated using Brent when the embargo was enacted on Libya. The bases in Brent would vapor lock pumps on the ships and in refineries. About the same API gravity but chemical makeup was different.


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CitizenK
McNeese State Fan
BR
Member since Aug 2019
3229 posts

re: 2019- United States was the largest oil producer in the World
The US increase oil production by 25% during Trump (a lot of those wells were drilled during Obama but not completed until Trump) but has declined by 10% since Biden


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