US energy minister Rick Perry believes that the US could dominate the global energy market by exporting large amounts of domestic oil, gas and coal. The Financial Times reports that President Donald Trump wants to expand its domestic capacity to export liquid gas (LNG) .
The petroleum field in the Permian Basin in the state of Texas plays an important role in obtaining supremacy in the global oil market . With an estimated 75 billion barrels (159 liters barrel) of oil, the world's second largest petroleum deposits are expected to be there. The world's largest known oil deposits are located in the Ghawar field in Saudi Arabia.
However, an analysis by Oilprice.com shows that the oil deposits in the Permian basin and thus also the potential to rise to oil power are overestimated. During the current year, the US would have had to import 9 million barrels of crude oil per day. "How can the world's largest importer of oil become a supplier to which other countries should depend?" Asks oilprice.com.
You can read the rest @
https://deutsche-wirtschafts-nachrichten.de/2017/07/20/zu-wenig-reserven-usa-koennen-globalen-oelmarkt-nicht-dominieren/ [translation required]
You can find the Oil Price report itself @
http://oilprice.com/Energy/Oil-Prices/Permian-Oil-Reserves-Are-Grossly-Exaggerated.html
Dear Rick - You should have stayed in retirement and spared all of us the embarrassment.
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