An expected record United States shale oil output is complicating OPEC’s efforts to control the price of oil on the international market, by cutting production.
The problem for OPEC is that the crude oil output in the U.S. has increased “in nine of the last 10 months” with prices having “declined to a three-week low Monday as the growing U.S. output and signs of lower demand from China stoked concern that a global oversupply will linger.”
The gain is being led by the oil-rich Permian basin of Texas and New Mexico, where production has risen steadily over the past two years. The Energy Information Administration projects Permian output to rise by 64,000 barrels in September, reaching a record of 2.6 million barrels a day.
You’d think that the more “a developed country spends on health care, the longer it’s people” would live. And you’d be wrong. For instance, the United States, “which spends the most on health care,” only ranks 27th out of 35 countries “in the Organization for Economic Cooperation and Development, which promotes policies to improve social and economic well-being.”
Moreover, it “has the fourth highest infant mortality rate in the OECD, the sixth highest maternal mortality rate and the ninth highest likelihood of dying at a younger age from a host of ailments, including cardiovascular disease and cancer.
The United States is also “the most obese country in the OECD, leads in drug-related deaths and ranks 33rd in prevalence of diabetes.”
Even so, “88 percent of Americans say they are in good or very good health, according to OECD statistics,” whereas “only 35 percent of Japanese, who have the highest life expectancy in the OECD, regard themselves as healthy or very healthy.”