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Guess who is set to lead world in oil production

Monday, July 16, 2018
 | 
Steve Jordahl (OneNewsNow.com)

gasoline pumpsThe United States is on track to become the world's number one oil exporter by 2019.

The International Energy Agency made the forecast based on expected U.S. output of shale oil, which is harvested from rocks containing kerogen. It has the country on pace to exceed an output of 11 million barrels per day.

Financial expert Dan Celia of "Financial Issues" says that makes America not only a player in the market but, soon, the top dog. 

"Market share, globally, has not been something that oil companies here in the U.S. have tried to go after," he advises. "And now we are seeing that, both in nat-gas and oil, and that is going to be a growing part of America's economy."

Celia

Celia predicts the oil boom will not only drive prices down at the pump but could also start what he calls an industrial revolution in the U.S.

"One of the things that corporations want, that may be planning on coming here to America, is free-flowing, cheap energy," he says. "That's far more important to most manufacturers and corporations than is cheap labor."

But the longtime financial analyst cautions that America's fortune comes at the expense of Russia and Saudi Arabia, the world's current numbers one and two oil producers.

"Russia, of course, they have nothing," Celia says. "All they have is oil and this is a huge, huge issue with Russia."

President Donald Trump, meanwhile, is angling to take oil sales away from Russia. Last week, he chided Germany for getting natural gas from Russia when they could be getting it from their ally, America.

"Financial Issues" airs weekdays on American Family Radio


Editor's Note: American Family Radio is a division of the American Family Association, the parent organization of the American Family News Network, which operates OneNewsNow.com.

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