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Politics : Formerly About Advanced Micro Devices

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To: Wharf Rat who wrote (1048677)	1/16/2018 8:53:24 AM
From: Sdgla	1 Recommendation Read Replies (1) of 1577025

#BUSINESS NEWS JANUARY 15, 2018 / 10:16 PM / UPDATED 7 HOURS AGO U.S. oil industry set to break record, upend global trade Liz Hampton HOUSTON (Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. FILE PHOTO: Workers hired by U.S. oil and gas company Apache Corp drill a horizontal well in the Wolfcamp Shale in west Texas Permian Basin near the town of Mertzon, Texas, U.S., October 29, 2013. REUTERS/Terry Wade/File Photo And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world’s top producer. The economic and political impacts of soaring U.S. output are breathtaking, cutting the nation’s oil imports by a fifth over a decade, providing high-paying jobs in rural communities and lowering consumer prices for domestic gasoline by 37 percent from a 2008 peak.

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