Truthfeed: Did you ever think you’d live to see the day when America was no longer dependent on the Middle East for oil?
Even better, did you ever think you’d see the day that America would become the world’s LARGEST oil exporter?
Stick around, because by next year, that’s exactly what will happen.
While U S production is up from practically nothing 10 years ago, the headline is really misleading. The U S burns through 20mm barrels a day. We are not “net exporters” of oil. We do and always have exported huge quantities of refined gasoline though.
I remember after the ’73 oil embargo, the Dept. of Energy was created to get us energy independent. For 40 years we poured tax money at that useless entity, while a bunch of private companies with their new technologies got us energy independence.
Ain’t free-enterprise without gov’t interference great ?
If we could just get rid of the corn welfare boondoggle.
Gas is for drivin’, corn is for drinkin’, do not mix the two.
Perhaps a more relevant question; did you ever think America would be able to withdraw from Obutthole’s oppressive, degrading communistic policies??
I assure you, that asshole is one turd that was difficult to flush.
Unfortunately, he’s still floating around the septic tank.
https://dailyreckoning.com/2-new-drilling-techniques-that-will-shatter-us-oil-expectations/
A couple things that are driving the boom
the policies of DJT have made this possible …. there is no greater factor
MAGA!!!!
Frank: Thanks for that great link. Almost all of the new production of oil and gas in America has come from private land, because the Obama Administration tied up drilling on Federal lands while it squandered billions on alternative energy sources that can’t compete with traditional petroleum resources. Production from shale basins will put OPEC out of business in a few decades.
Being a net crude exporter is all well and good, but when will we have more refineries to produce more gasoline? As far as I’ve heard, there hasn’t been a new refinery built in the last 50 years.
Just think. More people, driving more cars, using the same (or close to it) volume of gasoline as was produced in the 1960s.
Open up the Federal lands for
oil production and since “we”
own it drop our fuel taxes based
on “our” profits.
The money freed up for “us” to
spend on our families will give
the economy one hell of a shot
in the arm.
Who cares? Let me know when the prices at the pump reflect our glut in oil. Last I checked per gallon is on the rise again.
And they’ll still be sticking the high gas prices in our Ass
Rather than selling strategic assets I would rather they extend the number of years of supply America has in proven reserves.
The US still imports nearly 4M barrels / day net (imports – exports).
https://www.eia.gov/tools/faqs/faq.php?id=727&t=6
U.S. petroleum imports, exports, and net imports, 2017 (million barrels per day)
Import sources ….. Gross imports Exports Net imports
Total, all countries … 10.08 ……… 6.34 ……… 3.73
The good news is that with Canadian imports (3M/day net) North America is right at oil independence.