THE DROP IN OIL CRUDE PRICES CAN BE ATTRIBUTED TO THE SPIKE IN OIL PRODUCTION IN THE US AS CRUDE DROPS DOWN TO $81 A BARREL FROM A HIGH OF OVER $100 THIS 2014–THE US WITH ITS TECHNOLOGY OF CREATIVITY IS NOW PRODUCING 8.8 MILLION BARRELS A DAY–WITH NO HELP WHATSOEVER FROM THE DEMOCRATS WHO HAVE THROWN EVERY ROAD BLOCK TO CREATING DOMESTIC ENERGY FROM NUCLEAR TO DOMESTIC OIL EXPLORATIONS–AS IMPORTS HAVE SLOWLY BEEN CURTAILED YET THE POTUS BHO AND THE DEMOCRATS WOULD HAVE YOU BELIEVE WE SHOULD CONTINUE TO BOW TO THE SAUD AS THE POTUS BHO HAS DONE–THE LOWER IN OIL PRICES ONLY MEANS LESS PRICES FROM FOOD TO GAS TO CLOTHING THE STAPLES OF EVERY CITIZENS - BUT THEN THE ARGUMENT IS HOW LOW WOULD IT COME DOWN AND STILL BE PROFITABLE FOR COMPANIES TO FRACK

Propelled by surging shale output, the United States is fighting for supremacy in the global oil market even as a pullback in crude prices threatens to challenge the boom.
The U.S., which only a few years ago seemed to be in the midst of an inexorable decline in domestic petroleum production, may have already overtaken other petroleum giants.
In terms of crude alone, the U.S. pumped 8.8 million barrels a day in September, still a distance from Russia’s 10.6 million barrels and Saudi Arabia’s 9.7 million, according to official sources.
But when natural gas liquids are included, the U.S. extracted 11.5 million barrels in August, essentially level with OPEC kingpin Saudi Arabia, according to data from the International Energy Agency.
Regardless of whether it is at or near the top of the global petroleum pecking order, the U.S. is rethinking its decades-old ban on oil exports in light of the boom as energy emerges as an increasingly important foundation of the U.S. economy.
At the same time, the U.S. boom “has been changing the worldwide market,” said James Williams, energy economist for WTRG Economics. “It’s the thing that has put pressure on OPEC.”
The pace of growth has been staggering, with U.S. output rising nearly 60 percent since its low in 2008.
During previous booms, the U.S. added one million barrels per day of output over the course of a decade.

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