The U.S. has succeeded in lifting its oil production to over 8 million barrels per day, the highest levels in decades. But where exactly is all that oil coming from?
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Tag Archives: oil
Big Oil Is Cashing In On Iraq Violence
The spike in instability in several oil producing regions around the world is threatening to knock some production offline, but it is also boosting profits for drillers operating in trouble-free zones.
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Getting oil, gas to markets vital: Baird
OTTAWA—Foreign Affairs Minister John Baird says the crisis in Ukraine makes getting Canada’s oil and gas to international markets that much more important.
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WELCOME TO THE CURRENCY WAR: RUSSIA CHINA BYPASS THE PETRODOLLAR
As it tries to punish Russia for the latter’s dismemberment of Ukraine, the West is discovering that the balance of power isn’t what it used to be. Russia is a huge supplier of oil and gas — traded in US dollars — which gives it both leverage over near-term energy flows and, far more ominous for the US, the ability to threaten the dollar’s rein as the world’s reserve currency. And it’s taking some big, active steps towards that goal. As Zero Hedge noted on Tuesday:
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Texas Sitting on $140 Billion in Oil Wealth
A new report finds that Texas holds an estimated $140 billion in “petro-wealth” in proved reserves. About $110 billion of that total is owned by corporations, $22 billion owned by individuals, $5 billion by trusts, and the remaining $3 billion owned by non-profits, government, and educational and religious institutions. The figure assumes a price of $94.89 per barrel. The biggest share of the oil wealth – around $47 billion – is located near Houston.
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Manufacturing, oil and gas boost Canada industrial capacity use
OTTAWA (Reuters) – Manufacturing and oil and gas extraction boosted Canada’s industrial capacity use to 82.0 percent in the fourth quarter of 2013, up from 81.2 percent in the third quarter, Statistics Canada said on Thursday.
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Drilling Efficiency Continues to Climb in U.S. Shale
Oil and gas operators are continuing to improve their drilling techniques, leading to increases in total output on a per-rig basis. New data from the U.S. Energy Information Administration’s Drilling Productivity Report projects that both oil and gas production will increase in April 2014 from a month earlier in several major shale plays around the country.
Read more: http://tinyurl.com/noeo5dl
U.S. Refiners Make Case Against Oil Exports
Record-setting levels of U.S. oil production have sparked calls from industry officials and policymakers to reverse a 1970s ban on crude oil exports. Dissent, however, is emerging from inside the U.S. oil sector itself.
Read more: http://tinyurl.com/k599vc6
China’s Oil Discoveries – 1.08 Billion Tons
China’s voracious energy needs have been a source of concern for government officials for years. Ironically, China was a net oil exporter until the early 1990s and became the world’s second-largest net importer of crude oil and petroleum products in 2009. In 2010 it became the largest global energy consumer.
Read more: http://tinyurl.com/lqftt4x
Lethbridge County adds voice to concerns over urban drilling
There’s oil in them there hills – foothills that is. Considered black gold by some. Oil and gas exploration has been at the forefront in Lethbridge and surrounding area over the past few years.
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