U.S. Ousts Russia as World’s Top Oil, Gas Producer
June 10th, 2015Via: Bloomberg:
The U.S. has taken Russia’s crown as the world’s biggest oil and natural-gas producer, illustrating the seismic shifts in the global energy landscape caused by America’s shale fields.
U.S. oil production rose to an all-time high last year, gaining 1.6 million barrels a day, according to BP Plc’s Statistical Review of World Energy released on Wednesday. Gas output also rose, putting America ahead of Russia as a producer of the hydrocarbons combined.
The data showing the U.S.’s emergence as the world’s top driller confirms a trend that’s helped the world’s largest economy slash imports, caused a slump in global energy prices and shifted the country’s foreign policy priorities.
“We are truly witnessing a changing of the guard of global energy suppliers,” BP’s Chief Economist Spencer Dale said in a presentation. “The implications of the shale revolution for the U.S. are profound.”
