Shale crude and condensate production at 2.5 MMB/D in 2013 is now slightly over one-third of total US crude production, and shale NGL at 1.2 MMB/D is almost half of total Natural Gas Liquids (NGL). US total supply for 2013 is expected to average 12.1 MMB/D. In 2012 the US overtook Russia to become the second largest supplier of oil and was just behind Saudi Arabia. Both the US and Saudi Arabia increased their supply in 2013, though production in the US grew at a faster pace. US total supply in 2013 is larger than that of Saudi Arabia by 0.3 MMB/D and ahead of Russia by 1.6 MMB/D. The fourth through 10th largest suppliers are: China, Canada, UAE, Iran, Iraq, Kuwait, and Mexico. Total oil supply counts all forms of liquids supply. The largest part is crude oil, including condensates. In this category, the US is expected to produce 7.4 MMB/D, which is less than that produced in Saudi Arabia and Russia by roughly 3 MMB/D each. But the US has substantial other forms of supply, including natural gas liquids (NGLs) at 2.5 MMB/D, bio-fuels at 1.0 MMB/D, and refinery gain at almost 1.3 MMB/D. (Refinery gain measures the ability of a refinery to optimize its output through sophisticated high conversion capabilities). US total supply growth in 2013 is seen at 1.0 MMB/D and about the same as last year’s growth.
government on watch for a credit downgrade; Ezra argues that it makes perfect sense to downgrade America’s political system. But how does the United States stack up internationally? For that we turn to the BlackRock Investment Institute, the research arm of the giant money manager. It has created the “BlackRock Sovereign Risk Index” which aims to combine key aspects of creditworthiness of 48 countries around the world. It factors in plenty of things that have to do with the substance of different countries’ finances, such as their current debt and deficit levels, banking system strength, and exposure to debt denominated in foreign currencies. But it also adds an important layer that it calls “Willingness to Pay.” It measures the effectiveness and efficiency of governments to meet their obligations, and counts for 30 percent of the total index. Perhaps it shouldn’t be surprising after the last couple of weeks of government shutdown and debt ceiling chicanery in Washington, but by BlackRock’s reckoning, the United States is not among the top-tier credit risks by this ranking. Here’s a complete map: You can check the detailed analysis for each country in an interactive graphic here . By BlackRock’s reckoning, the world’s most creditworthy nations–those with both solid finances and solid political systems that ensure bonds will be repaid–are the likes of Norway, Singapore, and Switzerland. The United States, as the map shows, is in the second tier, more similar to South Korea and Austria and Malaysia in its creditworthiness. For anyone who follows the news, it is hard to disagree. Neil Irwin is a Washington Post columnist and the economics editor of Wonkblog. Each weekday morning his Econ Agenda column reports and explains the latest trends in economics, finance, and the policies that shape both.
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Eventually, the United States signed the international chemical treaty in the 1990s and got serious about getting rid of the chemicals in a way that would not harm the environment or the people working at the plant or living in the area. While the process was slow and expensive, Trujillo said there was not a single casualty despite the volatility of some of the chemicals. “You know the whole task is nothing short of miraculous in my mind,” Trujillo said. “And I was part of it.” Today there are no weapons at the Tooele facility. The process of safely getting rid of these chemicals and munitions took 16 years, and was finally completed last year. Workers there will soon begin the process of dismantling the plants needed to do the job. Yet, there are still more than 3,000 tons of chemical weapons left in the United States, stored at two remaining facilities at Pueblo, Colorado, and Bluegrass, Kentucky. The majority is in Pueblo, where officials plan to start in 2015 destroying 2,600 tons of mustard blister chemicals stored in projectiles in liquid form. The process is expected to take four years. At the Bluegrass plant outside Lexington, Kentucky, there are 523 tons of mustard agent, VX and sarin nerve agents. Officials predict the job of destroying that arsenal, which is slated to start in 2020, will be completed in 2023. Where is Assad hiding chemical weapons? A convoy of inspectors from the Organisation for the Prohibition of Chemical Weapons prepares to cross into Syria at the Lebanese border crossing point of Masnaa on Tuesday, October 1. Inspectors from the Netherlands-based watchdog arrived in Syria to begin their complex mission of finding, dismantling and ultimately destroying Syria’s chemical weapons arsenal. The U.N.