America .. Increased production of oil and gas surplus

Gold Market Manipulation History in the U.S.

For the first time in twenty years than the U.S. domestic oil production 7 million barrels a day, according to a report by the Department of Energy in 9 of the month. An increase of 1.16 million barrels a day more than it was this time a year ago. The highest increase in production since 1991, according to official statistics.

Last year scored a major leap is expected to continue at a higher pace this year. This was due mainly to the development of technology for exploration and drilling that have made affordable access to oil inventories in the rock layers oily, in addition to expanding mining operations in various deferral U.S.; except public property and territorial waters, which still placed over the controversy in this regard. This coincided with the sleep faster for the production of natural gas, which overflowed the need for the local market, which is now on the threshold of America’s status in the box seller of this item in the global markets.

The volume of consumption

America consumes a little less than a quarter of the global production of oil. And burned 19.1 million barrels per day in 2011 and 18.8 million during 2012, out of 89 million barrels produced daily oil states. During the last two decades, the form of the oil imported from about two-thirds of their need.

The rising prices in recent years, in addition to pressure needed and new technology capable of extracting oil from the pockets ground that were intractable production; to push intensify investment and production in the states of known resource-oil, such as Texas, which increased production 23% and Utah 11% and mandate North Dakota, which rose 40% share, which came mostly from oily rocks.

Such was out of stock accounts in the past could not be reached. And today is one of the technologies available, although at a low cost. The cost of extracting oil shale range estimated between $ 25 and $ 95 a barrel. While the cost of conventional oil remain in the $ 11 rate.

Increase production

In light of this development went reports, including the International Energy Agency last November to launch the expectations that the United States is moving to increase production towards excellence on Saudi Arabia by 2020. News raised the case of tidings mixed paranoid.

But it soon began to scrutinize these expectations and refute and to the effect that it is not accurate prevailing standards in the field of energy. Only agency has a total production of the U.S. in their twenties 8 and 8 million barrels of oil a rocky plain and day.

The rest of the expected 11.1 million barrels, or 2.3 million barrels come from liquefied natural gas (LNG) and liquid ethanol derived from corn and grain. According to experts, is not the equivalent of liquid petroleum gas in terms of energy capacity equivalent to two-thirds of oil energy only and does not in terms of the capacity of the drum as only 19% of the barrels of liquid gas can be calculated in the petroleum hydrocarbons box. And so the amount of gas down to about five, as oil energy.

Conclusion, according to these figures that the U.S. escalation production, will not be up to the borders of Saudi production. And therefore indispensable to Washington for OPEC oil as long as the oil energy is indispensable.

Natural Gas

If the oil-sufficiency is unlikely in the foreseeable term for America, but the production of natural gas has gone a long way in recent times and as may be established in the status of Petroleum Exporting Countries to this vital commodity clean and cheap compared with oil. In 2011 production rate was 66 billion cubic feet per day. During the past year to the end of October, production increased by 6%. Abundance led to falling prices to about five – 1/5 of what it was four years ago.

Hustle export

The question being debated vociferously among producers on the one hand and industrial consumers and with Congress on the other hand on the export of liquid gas. First team is pushing to allow him to marketing production boil abroad anticipation of higher prices. The second push in the opposite direction, on the pretext that America is thirsty for domestic sources of energy, which helps to reduce reliance on imported oil. Especially in light of gas prices المهاودة and that would give shipment momentum to the faltering economy.

It is no doubt that America is witnessing a boom in the production of energy known. And comes at the right time. But do not sing for resources abroad because the need is enormous. Especially when it is still far from alternative energy.