• 3 minutes Biden Seeks $2 Trillion Clean Energy And Infrastructure Spending Boost
  • 5 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 8 minutes Gazprom fails to exempt Nord Stream-2 from EU market rules
  • 1 hour The World is Facing a Solar Panel Waste Problem
  • 2 hours Trumpist lies about coronavirus too bad for Facebook - BANNED!
  • 11 hours Rational analysis of CV19 from Harvard Medical School
  • 11 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 6 hours The Core Issue Of US Chaos..Finally disclosed
  • 12 hours Trump Suggests Delaying Election Amid Fraud Claims
  • 9 hours Open letter from Politico about US-russian relations
  • 10 hours China's impending economic meltdown
  • 11 hours Why Oil could hit $100
  • 11 hours Brent above $45. Holding breath for $50??
  • 6 hours Pompeo upsets China; oil & gas prices to fall
  • 9 hours Russia Trying To Steal COVID-19 Vaccine Data, Say UK, U.S. and Canada
  • 1 day End Game For Oil? OPEC Prepares For An Age Of Dwindling Demand
COVID Fears Drive Oil Prices Downwards

COVID Fears Drive Oil Prices Downwards

Despite significant oil inventory declines…

Big Oil’s Most Profitable Business Is No Longer Oil

Big Oil’s Most Profitable Business Is No Longer Oil

Oil and chemicals trading saved…

Oil Prices Could Break $50 In 2021

Oil Prices Could Break $50 In 2021

IHS Markits has raised its…

Robert Rapier

Robert Rapier

More Info

Premium Content

The U.S. Could Set 5 Energy Production Records This Year

As I indicated in my previous article, I believe President Trump missed a golden opportunity to highlight energy in his State of the Union address last week. Instead, energy was scarcely mentioned. The president devoted about 30 words of the nearly 5,200-word speech to the state of American energy.

The President could have said, “Today America is the world’s foremost energy superpower.”

According to the 2017 BP Statistical Review of World Energy, the U.S. was ranked:

• #1 in oil production*

• #1 in natural gas production

• #1 in nuclear power

• #1 in geothermal power

• #1 in biofuels production

• #2 in solar power

• #2 in wind power

• #3 in coal production

• #4 in hydropower

The president could have said, “The U.S. produces more energy than any other country.”

President Trump could have said, “The U.S. leads in more categories of energy production than any other country.”

He probably should have pointed out that this year the U.S. will almost certainly break the all-time production record for crude oil production. This is a record that has stood since 1970. Newly released data from the Energy Information Administration (EIA) show that in November, U.S. oil production exceeded 10 million barrels per day (BPD) for the first time since 1970.

The president could have pointed out that U.S. natural gas production, which has already risen by more than 50 percent since 2005, will likely set a new all-time high this year.

Related: The Shale Boom Might Not Last Long

In fact, this year the U.S. will likely set new production records for oil, natural gas, solar and wind power, as well as biofuels.

The president could have talked about his executive orders that jump-started the stalled Dakota Access and Keystone XL pipeline projects. Oil now flows through the Dakota Access Pipeline, and TransCanada (Keystone’s backer) is moving forward after being blocked for years by the Obama administration.

Those are a few of the things he could have said about the state of energy production in America. Maybe next year.

* According to the BP Statistical Review, U.S. crude oil production jumped ahead of Saudi Arabia and Russia in 2014. This is in part because BP’s definition of “oil” includes natural gas liquids (NGLs), which have surged in the U.S. along with natural gas production. Without the NGLs, the U.S. would have been behind Saudi Arabia, and possibly Russia as well, in total oil production. However, even without the NGLs, U.S. oil production has surged in the past decade and is on a trajectory that could overtake Saudi Arabia and Russia as early as this year.

By Robert Rapier

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News