- The Citi projection is for both crude and finished (refined) petroleum products, not only crude oil. Saudi Arabia remains the world’s largest exporter of crude
By Tim Daiss – May 02, 2018
As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.
The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added.
However, it should also be noted that the Citi projection is for both crude and finished (refined) petroleum products, not only crude oil. Saudi Arabia remains the world’s largest exporter of crude, though since January amid the OPEC/non-OPEC production cut agreement that figure has fallen. On April 10, the Saudi oil minister said that the kingdom planned to keep its crude oil shipments in May below 7 million bpd for the 12th consecutive month.
Saudi Arabia has also trimmed its oil production more than 100 percent of the output cuts it agreed to under the January 2017 production deal. In March, Saudi crude production was at 9.91 million bpd, below the deal’s output target of 10.058 million bpd.
Russia, however, also part of the global oil protection cut agreement, increased its crude oil production by 0.2 percent to 10.97 million bpd in March, compared to the previous month and an 11-month high.
- Soviet leader Boris Yeltsin: If the lines of starving men, women and children in Russia were to see the conditions of America’s supermarkets, “there would be a revolution.”
- “When I saw those shelves crammed with hundreds, thousands of cans, cartons and goods of every possible sort, for the first time I felt quite frankly sick with despair for the Soviet people.”
- In photos taken by the Chronicle, Yeltsin could be seen “marveling at the produce section, the fresh fish market, and the checkout counter. He looked especially excited about frozen pudding pops.”
( Conservative Tribune ) Very few people know this, but one of the most famous Soviet officials in Russian history originally learned of the many advantages of capitalism at a regular ol’ Randalls grocery store nearly three decades ago.
In 1989, then-Communist Party of the Soviet Union member Boris Yeltsin traveled to the United States to visit the Johnson Space Center in Texas, according to the Houston Chronicle.
While in Houston for the visit, he also stopped by a Randalls grocery store, where he “roamed the aisles of Randall’s nodding his head in amazement,” according to an account of the visit written by then-Chronicle reporter Stefanie Asin.
He further told his fellow comrades who followed him to America for the visit that if the lines of starving men, women and children in Russia were to see the conditions of America’s supermarkets, “there would be a revolution.”
In photos of the visit reportedly taken by the Chronicle, Yeltsin could be seen “marveling at the produce section, the fresh fish market, and the checkout counter. He looked especially excited about frozen pudding pops.”
“Even the Politburo doesn’t have this choice. Not even Mr. Gorbachev,” he himself reportedly said, referring to the then-president of the Soviet Union.
Even after Yeltsin left Houston, he still remained transfixed by the luxuries we as Americans have always considered normal.
“For a long time, on the plane to Miami, he sat motionless, his head in his hands,” wrote biography Leon Aron in his 2000 book, “Yeltsin, A Revolutionary Life,” basing his account on quotes from Yeltsin’s associates, according to The New York Times.
“‘What have they done to our poor people?’ he said after a long silence. On his return to Moscow, Yeltsin would confess the pain he had felt after the Houston excursion: the ‘pain for all of us, for our country so rich, so talented and so exhausted by incessant experiments.’”
Experiments in communism, to be precise.
Yeltsin reportedly admitted to these thoughts in his own autobiography, writing, “When I saw those shelves crammed with hundreds, thousands of cans, cartons and goods of every possible sort, for the first time I felt quite frankly sick with despair for the Soviet people.”
The year that our nation declared its independence, in 1776, was the last time a total solar eclipse occurred only over the United States and in no other country,
This eclipse is particularly rare for its accessibility. The path of most total eclipses falls over water or unpopulated regions of the planet. The August event will go down as the first total solar eclipse whose path of totality stays completely in the United States since 1776, experts say, according the Space.com Total Solar Eclipse 2017 guide.
Total solar eclipses don’t often appear in the United States, which makes the coming event on August 21 all the rarer. This eclipse will travel in a thin 70-mile wide path across the entire nation, from Oregon to South Carolina.
The last time any part of the country experienced a total solar eclipse was nearly 40 years ago, on February 26, 1979. The path of the eclipse started in the Northwest, beginning in Washington and traveling east to North Dakota before moving into Canada.