Loading ...American Powerhouse
The new reality of world oil supply that has recently emerged explains why panic remains unlikely with current conditions. And central to this reality is the radically new role played by the U.S., one that will not wither or weaken anytime soon.
In just six years, America’s production of crude oil rose so rapidly that it surpassed that of both Russia and Saudi Arabia, increasing from 5.5 million to 12.2 million barrels per day. It is now forecast to reach over 13 million barrels per day in 2020. Adding to this other petroleum liquids, especially those derived from natural gas, the total rises to 18 million barrels per day, a level no country has ever before achieved.
https://nationalinterest.org/blog/buzz/attacks-saudi-oil-–-why-didn’t-prices-go-crazy-82811