Saudi Arabia is scooping up large swaths of land in Northern Virginia, just a stone’s throw away from the nation’s capital, according to local reports.
“The Saudi government now owns five adjacent properties on the grandiose corridor in McLean that is home to high-profile, pricey estates and bucolic views of the Potomac River, according to government assessment records,” Washington Business Journal reported.
The Saudi government is said to have purchased a series of adjacent homes “occupying about a half-mile stretch” near Chain Bridge Road in Northern Virginia, according to the report.- READ MORE
Thanks to American innovation and a massive shale oil boom in Texas, the United States is set to become the world’s number one producer of oil by the fall.
The massive boon to American oil independence is rooted in Texas, which houses major oilfields in the Permian Basin in the West and Eagle Ford in the South.
In fact, on its own, Texas is set to surpass Iran and Iraq — both members of the Organization of the Petroleum Exporting Countries (OPEC) — by next year, predicted a recent HSBC report. Sitting as the world’s number three producer of oil, Texas would be behind only Saudi Arabia and Russia. Moreover, by 2019, the Lone Star state is expected to provide the U.S. with over half her oil production at 5.6 million barrels a day. Daily production in Iraq is predicted to be at 4.8 million barrels a day; Iran at 3 million barrels.
Currently, the U.S. produces an estimated 10.3 million barrels a day, on a trajectory to hit 11 million barrels daily by the fall. “At that level of output, the U.S. would be the world’s top producer,” notes The Blaze. “Russia currently pumps 10.6 million barrels a day, and Saudi Arabia pumps about 10.1 million, according to the report.” – READ MORE