The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said.
U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. The International Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids.
Read the complete story at Bloomberg News.
Related News
- Union Sportsmen’s Alliance Celebrates 20 Years With 20 Benelli M2 Shotguns
- Happy Independence Day
- Veterans helping veterans: SMART members help build new VA Medical Center in Kentucky
- WATCH: Don’t Let CSX Railroad Chicago!
- Statement from National Safety & Legislative Director Jared Cassity on FRA’s ATI Ruling
- Long-time Union Ally Mikie Sherrill Runs for New Jersey Governor
- New law would end unfair taxation on workers’ strike pay
- 1% Declares War On 2-PC & SMART-TD
- NRLC Bargaining Chart
- Local Pride T-Shirt Contest Rules