Sector News

Categories

Borderless Insights

Image
Negotiating Terms with a New Employer
Image
Beyond Flowers and Platitudes: Reclaiming the Essence of International Women’s Day
Image
Visionary or ‘Stuck-in-the-Mud’? Where are you on Workplace Flexibility?

US overtakes Russia as top oil and gas producer, report says

June 11, 2015
News

(Fox News) – The United States has overtaken Russia as the biggest oil and natural gas producer in the world, in what one economist has described as “a changing of the guard of global energy suppliers.”

 
Bloomberg reported Wednesday that U.S. oil production rose to a record 1.6 million barrels a day last year, according to BP’s Statistical Review of World Energy. Natural gas output also soared, which inched America ahead of Russia as a producer of the two combined.
 
“We are truly witnessing a changing of the guard of global energy suppliers,” BP Chief Economist Spencer Dale said in a presentation on the data Wednesday, Bloomberg reported. “The implications of the shale revolution for the U.S. are profound.”
 
The BP report also shows China’s energy demand is growing at the slowest pace since the Asian Financial Crisis in the 1990s as the communist nation suffers a slowing of its economy and tries to reduce its reliance on heavy industry, Bloomberg reported.
 
In the United States, the report finds that the oil and gas boom has changed the economy, allowing manufacturing to return as the country produced about 90 percent of the energy it consumed last year.
 

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

Read more
August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

Read more
August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Consumer Packaged Goods

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Read more
More news

How can we help you?

We're easy to reach