It’s happened again, for the third consecutive year; the United States is the world leader in petroleum and natural gas production. According to a new report from the federal Energy Information Administration, 2014 was another banner year for fuel output by the U.S.
Just how have we managed to beat out other major global fuel producers yet again?
Growing As A Global Fuel Producer
Over the last year, the U.S. is reported to have boosted its petroleum output by 3 quadrillion Btu, which is a healthy addition to the most than 11 quadrillion Btu produced since 2008. The primary source of success in U.S. fuel production comes from a couple of unsurprising sources found in the eastern U.S., as well as Texas and North Dakota.
Shale oil deposits and natural gas output have enabled the U.S. to become and remain the world’s largest hydrocarbon producers, leading other nations that have seen only minimal production and large stagnation over the last year.
The West Leads The East
Following the U.S. and previously holding the top spot as the global leader in hydrocarbon production, Russia now remains behind the U.S. by a 12 quadrillion Btu gap. The former lead could have narrowed that gap but a warmer than average winter and slow economic prosperity in Europe have kept petroleum and natural gas production increases still behind the United States.
Other major producer, Saudi Arabia saw significantly less hydrocarbon production compared to the U.S. and is now leading OPEC efforts to maintain oil production levels. Even as crude prices have dropped dramatically throughout 2014, petroleum-producing nations are still fighting to protect their stake in the global market.
Producing Carbon Fuels While Reducing Our Use?
Also in the news, the Obama administration along with the Department of Defense and leading solar energy companies have announced a new initiative to put more Americans to work growing our solar industry and renewable energy infrastructure. Will our increasing natural gas and petroleum production, coupled with a growing utilization of solar lead the U.S. to become a major energy producer and reduced carbon user?
If this production trend continues, what impact will it have on geopolitical relationships, world economics, and other issues?
Share your thoughts in the comments.
1 thought on “How Did The U.S. Top Petroleum And Natural Gas Production Yet Again?”
I am glad to hear that the U.S. is once again an industry leader in the production of oil and gas, but I too have environmental concerns that come with fracking and other methods of production. The offshore oil and gas industryas well as the federal agencies that regulate itmust remain diligent to avoid the mistakes that led up to the Macondo deepwater well blowout and crude oil spill 5 years ago.
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