90 Miles From Tyranny : US Sets Combined Oil and Gas Production Records as China Demand Soars

Thursday, August 22, 2019

US Sets Combined Oil and Gas Production Records as China Demand Soars

The U.S. Energy Information Agency reported America achieved new energy production records in 2018 with oil up 17 percent and gas up 12 percent, as China demand soared.

The U.S. energy production was evenly balanced in 2018 with petroleum liquids accounting for 28.7 quadrillion British Thermal Units (Btu) and U.S. dry natural gas production averaging 28.5 billion cubic feet per day. Liquids’ production both hit records with 11 million barrels of oil per day (b/d) and 5 million b/d of condensate gas.

The United States surpassed Saudi Arabia in 2018 as the world’s largest petroleum producer for the first time since 1973, and extended its decade-long lead over Russia as the world’s largest natural gas producer.

Global energy demand grew by +2.9 percent last year with China consumption accounting for 34 percent of growth, followed by +20 percent from the United States and +15 percent from India. China surpassed the United States as the world’s largest crude oil importer with 8.4 million b/d in 2017. Imports currently exceed 10 million b/d and are still rising.

China’s domestic oil production peaked at 4.4 million b/d in June 2015, but over-working in its main drilling fields is blamed for production falling to...

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2 comments:

  1. Brings to mind the fact that the US got involved in WW2 b/c of Japan attacking Pearl Harbor. They attacked Pearl Harbor in part because the US cut off oil exports to them and they needed to take the Dutch East indies to secure their oil supply. It wasn't as simple as that, but the US supplying oil to a raising militaristic power in Asia that is likely to do very unpopular stuff - like invading Hong Kong with much bloodshed - makes me nervous.

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    1. At this point, if Hong Kong isn't degutted and partially razed, it would be due to massive Western involvement I am not seeing. China wants HK scrubbed, they have another city, in the interior, as the new HK. Won't work, can't tell communists squat. But when they rape HK, no one will want to play with them. Some things are business, some politics, some personal, etc. Honk Kong is many things. And while the cowards won't lift a finger to actually help, their hatred will last until communism in China, and any governing like that, is dead and gone. Maybe longer.

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