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| Economy |
| U.S. Posts First Month in 70 Years as a Net Petroleum Exporter |
| 2019-12-01 |
| (Bloomberg) -- The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949. The nation exported 89,000 barrels a day more than it imported in September, according to data from the Energy Information Administration Friday. While the U.S. has previously reported net exports on a weekly basis, today’s figures mark a key milestone that few would have predicted just a decade ago, before the onset of the shale boom. In its Short-Term Energy Outlook earlier this month, the EIA flagged the turnaround and forecast total net exports of crude and products of 750,000 barrels a day in 2020, compared with average net imports of 520,000 barrels a day this year. Analysts at Rystad Energy said this week the U.S. is only months away from achieving energy independence, citing surging oil and gas output as well as the growth of renewables. "Going forward, the United States will be energy independent on a monthly basis, and by 2030 total primary energy production will outpace primary energy demand by about 30%," said Sindre Knutsson, vice president of Rystad Energy's gas markets team. |
| Posted by:Unaitle Panda6599 |
| #7 To paraphrase: " Buy,Buy,Buy..Buy,Buy Iran." And rename it Trumpistan. |
| Posted by: Gomez Flugum6633 2019-12-01 13:13 |
| #6 Trump, join OPEC, then take the organization over completely! |
| Posted by: Penguin_of_the_Desert 2019-12-01 10:58 |
| #5 I was assured that we couldn't drill our way out of this. |
| Posted by: Matt 2019-12-01 10:23 |
| #4 fwiw, the US has been a net exporter of natural gas since June of this yeat also, the US actually is still a net importer of crude petroleum, however, we refine much more than we use and export refined products such as propane, distillate, gasoline and jet fuel the fact that we are a net importer of crude and a net exporter of products is very good for the economy since the latter are value added |
| Posted by: lord garth 2019-12-01 08:13 |
| #3 We were always basically given the oil. We paid and the sauds sent it right back in bribes to the beltway crowd and purchases of stuff they can't ever make for themselves. The beltway crowd isn't going to give up their baksheesh easily. |
| Posted by: M. Murcek 2019-12-01 05:48 |
| #2 Unabated good news. Best of all, we can now withdraw from the Middle East. Those camel-fuckers can keep their dirty oil. If Europe wants it, let them pay for armies and navies. We're through providing welfare for wealthy First World nations that can well afford it. And then DESPISE us for having a military. Fuck all of them. |
| Posted by: Herb McCoy 2019-12-01 05:16 |
| #1 One of the biggest stories of the century, with implications for everything from economic prosperity to our foreign policy to helping our working class and reducing inequality -- and yet this vastly consequential story has been consistently buried, spiked, suppressed by our idiot media execs. Unbelievable. |
| Posted by: Lex 2019-12-01 01:35 |