The United States produced the most oil

The United States had a 16% share of the global oil market in 2017 and produced nearly 16 MILLION barrels of oil per day

The US is the world’s largest oil producer, thanks to a decline in production costs and faltering competitors.

It overtook Russia during June and August 2018, and had already surpassed Saudi Arabia earlier in the year. Booming shale oil production enabled the domestic industry to reach 10 million bpd this year for the first time since the 1970s.

For the remainder of 2018 and for at least 2019, US supply is predicted to maintain the number one slot according to the EIA.

Why the United States produces the most oil

No, Venezuela, we do not want your oil.



Starting a New Thread ?

Well, you apparently don’t understand. It’s not about us wanting or needing oil. It’s about our corporations wanting the profit from the sale of the oil. Also, keep in mind that though we are the largest producer of oil, it’s at a loss. Fracking was a huge bad bet that has lost tons of money, as it costs more to extract and process than they make in profit. To date I believe our fracking industry is operating at a 39 billion loss, subsidized by taxpayers like you and I. Damn right our greedy corporations are and have been salivating over the largest oil reserve in the world, Venezuela. You seem to be under the misapprehension that we want the oil for our people. This shows a sad misunderstanding of the driving motives of our nation and govt. to clarify and sum up..... American actions such as war, politics, etc are not about providing what’s needed for our people. They are about extracting as much profit as possible for your corporate overlords.

Strangely I would think you would recognize this fact, simply by looking around and noticing that although we are now the largest oil exporter in the world, Exxon, Texaco, etc have not reduced or ended their operations extracting oil around the world.

a reply to: pexx421

I'm not sure if your statement is true currently, as you included no links, bu regardless, I believe there is great value in being energy independent, so our energy costs don't fluctuate at OPECs whims, or a destableized middle east.

a reply to: pexx421

After some quick research, I yeild to the fact that there are subsidies in effect, but would also point out that virtually all major oil producing countries do the same.

I'm not in favor of subsidies, in theory, but the reality is, almost all emerging tech is subsidized. Renewable energy has also been subsidized, with very little gain to the public, at large.

a reply to: Mach2

And that’s fine. As far as sources, google is everyone’s friend and the statistics are readily available and not really disputed. And I’m all for energy independence as well..... but that’s not the debate here. The op put forth the idea that we have “enough” oil and so that’s not relevant to Venezuela. I was pointing out that for the us corporate sector, there is no such thing as “enough”. To add, interesting nobody putting up a fuss about us subsidizing billions in fracking. But people pitch a huge fit whenever subsidizing alternative sources is headlined.

originally posted by: Mach2
a reply to: pexx421

After some quick research, I yeild to the fact that there are subsidies in effect, but would also point out that virtually all major oil producing countries do the same.

I'm not in favor of subsidies, in theory, but the reality is, almost all emerging tech is subsidized. Renewable energy has also been subsidized, with very little gain to the public, at large.

Oh, there are absolutely oil subsidies. And I am personally against any subsidies of existing, successful businesses. My main point is that fracking operates at a huge loss. And yes, renewable sources are heavily subsidized with middling benefits to us so far (other nations make great use) but it’s also en emerging market. Oil industry took many decades of subsidizing before it was effective as well.

originally posted by: pexx421

originally posted by: Mach2
a reply to: pexx421

After some quick research, I yeild to the fact that there are subsidies in effect, but would also point out that virtually all major oil producing countries do the same.

I'm not in favor of subsidies, in theory, but the reality is, almost all emerging tech is subsidized. Renewable energy has also been subsidized, with very little gain to the public, at large.

Oh, there are absolutely oil subsidies. And I am personally against any subsidies of existing, successful businesses. My main point is that fracking operates at a huge loss. And yes, renewable sources are heavily subsidized with middling benefits to us so far (other nations make great use) but it’s also en emerging market. Oil industry took many decades of subsidizing before it was effective as well.

Other nations are able to justify it because their energy costs are infated to a far greater degree than in the US. Primarily due to very high taxation of fossil fuels.

That's why, IMO, it is more complicated than it appears on the surface. It's an apples, and oranges comparison.

No matter how you look at it, or manipulate the costs, the fact is, Americans enjoy the lowest energy costs of any modern, industrialized nation.

Could we be more efficient? Absolutely, but we could also be paying a whole lot more, so it's hard to bash the reality, without recognizing the benifits.

a reply to: Mach2

No matter how you look at it, or manipulate the costs, the fact is, Americans enjoy the lowest energy costs of any modern, industrialized nation.

Do we? Or do we buffer the price at the pump with tax dollars through subsidies and "defense" budget?

a reply to: pexx421

No one wants their over priced low grade crude.

Try breaking your posts up with paragraphs.

originally posted by: CriticalStinker
a reply to: Mach2

No matter how you look at it, or manipulate the costs, the fact is, Americans enjoy the lowest energy costs of any modern, industrialized nation.

Do we? Or do we buffer the price at the pump with tax dollars through subsidies and "defense" budget?

If you are implying that we maintain our very expensive, and very awesome military might, for the sole purpose of cheap energy, I do not agree. Is it an ancillary benifit? It probably is, but not the primary one.

Also, I would point out that there us a lot more to energy costs, than the price of gas, at the pump.

I pay @ 10 cents per kwh, to heat, and cool my home, have hot water, cook my food, etc.

That's pretty cheap, as compared to other western nations.

a reply to: Mach2

If you are implying that we maintain our very expensive, and very awesome military might, for the sole purpose of cheap energy, I do not agree. Is it an ancillary benifit? It probably is, but not the primary one.

That's a fair way to summarize it, and I could agree with that.

I pay @ 10 cents per kwh, to heat, and cool my home, have hot water, cook my food, etc.

Also a fair point.

I am hoping we can shift our energy focus to clean electricity to drive us so we can have true energy independence. We have abundant resources, but we've got to be close to peak oil and look for alternatives.

a reply to: CriticalStinker

I agree with that.

Burning fossil fuels is certainly not environmentally friendly.

Solar power wouldn't be either if it were not used as a supplement to FF, and it won't be, until energy storage tech moves beyond the battery systems that are currently available.

a reply to: Mach2

You're exactly right, if we truly want to be mindful of it we need to make sure we don't trade one evil for another. We need to figure out battery technology that isn't as toxic as it is now.

Here's a cool 7 minute video of an energy renegade trying to crack the code to clean cheap energy (though storage would still have to be solved for cars).... While I doubt he'll be the one to crack the code, the idea and the man himself is very cool.

Moving from the main point of the op, guys. You can disagree with my conclusions of renewables vs oil, or of subsidies and their worth. But the op seemed to be disparaging oil as a motive for our “humanitarian “ war interest in Venezuela, and our attempts at fomenting a coup there.

I think it’s pretty clear that this is false. We have all the diamonds our population needs, and we still mine and import blood diamonds from Africa.

We have all the water we could want, and we still get water from other countries.

Yes, we are energy independent..... and yet we will still work to control the distribution and secure the profits from around the globe.

originally posted by: CriticalStinker
a reply to: Mach2

You're exactly right, if we truly want to be mindful of it we need to make sure we don't trade one evil for another. We need to figure out battery technology that isn't as toxic as it is now.

Here's a cool 7 minute video of an energy renegade trying to crack the code to clean cheap energy (though storage would still have to be solved for cars).... While I doubt he'll be the one to crack the code, the idea and the man himself is very cool.

What is your opinion of nuclear reactors?

I know the waste product is a huge obstacle, but that technology has come a long way since the days of Three Mile Island.

I've heard reports of minimal radioactive by products, but not sure how credible they are.

a reply to: Mach2

What is your opinion of nuclear reactors?

Old school nuclear reactors create too much waste...

The one in the video takes a different approach, while there is radiation from the process, it can be shielded and solid waste isn't much of an issue after the fact as I understand it.

The radiation that does get through the shielding is less than that you'd receive on a flight.

a reply to: Mach2

Destabilized M-E? - errgh you seem to conveniently forget the liberation of the ME by the US at the behest of their corporate overlords using fake excuses., WMDs etc

Give up the petrodollar Monopoly and then you may have some merit in calling for "independence".

There is a current thread about "socialized" medicine - funny how even with Oil traded in $US, your most vulnerable still suffer - the richest Nation on Earth - can't look after its own.

The CIA have had their fingers in South American countries since the 50's.

originally posted by: TheConstruKctionofLight
a reply to: Mach2

Destabilized M-E? - errgh you seem to conveniently forget the liberation of the ME by the US at the behest of their corporate overlords using fake excuses., WMDs etc

Give up the petrodollar Monopoly and then you may have some merit in calling for "independence".

There is a current thread about "socialized" medicine - funny how even with Oil traded in $US, your most vulnerable still suffer - the richest Nation on Earth - can't look after its own.

The CIA have had their fingers in South American countries since the 50's.

I didn't forget anything, and your statement is irrelevant to my point.

Israel going nuclear, or a coup in SA, are just two examples of things, among many, that can happen overnight, that would destableize the entire region.

I will not argue that the CIA, or baby Bush haven't done crappy things around the globe, but that has nothing to do with common sense security measures, that insure my standard of living.

As far as "taking care of our own", you exaggerate the situation. I have no compassion for lazy individuals, and we spend plenty on domestic programs to give those who are deserving a helping hand.

Do some ppl fall through the cracks of the "safety net"? Yes they do, but don't make us all out to be uncompassionate.

a reply to: Mach2

We have the worst domestic programs, with the worst outcomes in the developed world. Here, in the richest nation on earth.

originally posted by: pexx421
a reply to: Mach2

We have the worst domestic programs, with the worst outcomes in the developed world. Here, in the richest nation on earth.

I'm not sure I would agree, but one thing I am positive of, is that our government is the most inefficient, and wasteful entity on the planet.

I believe that is the biggest complaint among the average, middle class tax paying citizen, thus the arguement against more social programs, and there doesn't appear to be any way to correct the problem.

I'm not against helping ppl, or evening out the discrepancies, but when your government asks for more, while wasting what you already give them, is it any surprise that we laugh in their face?