The US oil industry continued to roar to life under President Trump and the GOP-controlled Congress in July; smashing records and beating estimates as the nation inches towards becoming the world’s largest producer of the fossil fuel.
According to the Daily Caller, the US oil industry produced over 18 million barrels of oil per day in July, beating previous records as the nation’s demand for the natural resource spiked during the busy summer months.
“Refineries along the Gulf Coast processed a record-breaking 9.5 million barrels per day during that period, and Midwestern plants processed a near-record amount of crude oil,” writes the DC.
“Refiners nearly broke the 18-million-barrel record in August 2017, but Hurricane Harvey forced some facilities to shut down as it hammered the Gulf Coast. Harvey shut-in around 3.2 million barrels a day in refining capacity, causing gas prices to rise,” adds the author.
Read the full report at the Daily Caller.
AMERICA FIRST: US to Become World’s TOP OIL Exporter Next Year
Energy industry insiders announced Friday that the United States is poised to become the world’ largest oil exporter; surpassing Saudi Arabia for the first time as early as next year.
According to Citigroup, the US currently produces approximately 8.3 million barrels of crude and refined oil per day compared with Saudi Arabia’s 9.3 million barrels.
Expanding American business and energy operations throughout the country are expected to boost those figures within months.
“Saudi Arabia has also trimmed its oil production more than 100 percent of the output cuts it agreed to under the January 2017 production deal. In March, Saudi crude production was at 9.91 million bpd, below the deal’s output target of 10.058 million bpd,” writes OilPrice.
The new projections fulfill a major campaign promise from President Donald Trump, who vowed to open new areas and unleash energy sector businesses to help make the United States energy independent.
BEIJING BETRAYAL: China CAUGHT SNEAKING Oil Supplies to North Korea
South Korean authorities announced Friday it had detained a Chinese-based ship and its staff over reports the tanker was sneaking oil supplies to Kim’s regime; a violation of recent UN sanctions that barred such shipments to the communist nation.
According to UPI, officials in Seoul confirmed they had seized the Lighthouse Winmore, a ship registered in Hong Kong that allegedly smuggled over 600 tons of refined oil into North Korea last November; well after the United Nations adopted Resolution 2375 which banned the hermit kingdom from importing fuel.
President Trump weighed-in on the revelation on social media, saying he was “very disappointed” that Beijing refused to comply with the UN mandate, adding that no “friendly solution” to the North Korean crisis would be possible “if this continues.”
“Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!” Trump tweeted.
Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!
— Donald J. Trump (@realDonaldTrump) December 28, 2017
South Korea’s seizure of a Chinese ship escalates already heightened tensions in the region; with dictator Kim Jong Un vowing to continue to test his rapidly expanding nuclear and missile programs.