Carpe Diem

No. 1 US produced more petroleum in March than: a) Saudi Arabia, and b) Europe, Central, and South America combined

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The Energy Information Administration (EIA) released new data this week on international energy production for the month of March. For the fifth straight month starting last November, total petroleum production (crude oil and other petroleum products like natural gas plant liquids, leased condensate, and refined petroleum products) in “Saudi America” during the month of March (11.76 million barrels per day) exceeded petroleum production in Saudi Arabia (10.85 million barrels per day). Also for the fifth month in a row starting last November, “Saudi America”: a) took the top spot in March as the No. 1 petroleum producer in the world, and b) produced more petroleum in March than the combined output of all of the countries in Europe, Central America, and South America (11.32 million barrels per day in March), which has never happened in the history of EIA international petroleum data back to 1994.

More evidence that America’s shale energy revolution is taking us from “resource scarcity” to a new era of “resource abundance” as the US now consistently produces more petroleum than Saudi Arabia, has led the world in petroleum production for five straight months, and now produces more petroleum than all of the countries in Europe, Central America, and South America combined. This energy bonanza in the US — described as the “energy equivalent of the Berlin Wall coming down” — would have been largely unthinkable even five years ago. But then thanks to revolutionary drilling techniques developed by America’s “petropreneurs,” we unlocked vast oceans of shale oil and gas across the US and are now the world’s No. 1 producer of petroleum for five months running.

Welcome to America’s shale revolutionCarpe oleum.

11 thoughts on “No. 1 US produced more petroleum in March than: a) Saudi Arabia, and b) Europe, Central, and South America combined

  1. The broad and deep application of technology to the oil/natural gas patch is creating wealth, capital, prosperity, jobs, incomes, cheap feedstocks for dozens of industries and even tax receipts. A resulting higher standard of living is win-win for everyone.

    If Adam Smith were alive to update his Wealth of Nations first published in 1776, then he surely would have included a chapter on fracking.

  2. Your headline that the US produced more petroleum products than SA etc is “misleading”, to say the least. For you to say that the US produces more oil products than just SA is “silly”. You need to revise your “comparisons’.

  3. At this point, I think the real question is: Are we headed for an oil price collapse?

    Indeed, what if Saudi Arabia plans to boost production for a year or two and wipe out rival oil producers?

    Or what if oil supplies—at $80 a barrel—swamp demand? Then we will se lower prices, obviously.

    Obama doesn’t strike me as being a Saudi Arabian catamite, the way “George “Short Pants” Bush jr. was.

    Not sure what Obama would do if falling oil prices threaten to reduce domestic production. Probably form a committee.

    • “Note that Mark and the other promoters have stopped hyping up shale gas …”

      No, he simply noted the speed with which producers moved from gas to oil and other associated liquids.

      Try to keep your head out of your ass long enough to actually read his posts.

  4. The exponential development of oil and natural gas in the U.S. is providing our economy stability in an otherwise increasingly uncertain time. While other industries are still suffering, oil and gas has emerged as the top job creating sector in the nation. Moreover, these workers are earning higher wages compared to other industries.

  5. It’s amazing that there are so many people (only one here so far) who claim to have knowledge of a subject and yet are so unintelligent that they do not know how to express themselves without using filthy language. And as long as such language is allowed in the comments I will not pass along the information no matter how important it might be.

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