U.S. Reports First Month in 70 Years as Net Exporter of Oil – IOTW Report

U.S. Reports First Month in 70 Years as Net Exporter of Oil

Monday, 2 December 2019, 11:45 BFH Uncategorized 9

PJM:

Remember a few years ago when the United States was heavily dependent on foreign oil and experts were telling us we’d be a slave to OPEC forever?

I remember it well. We fought wars for oil, undermined unfriendly governments for oil, but in the end, we were at the mercy of others for our oil supply. Our economy was held hostage by OPEC, as even a small change in the price of oil would send markets reeling and slow economic growth.

But in September, that all pretty much ended. For the first time since records were kept beginning in 1949, the United States became a net exporter of oil. read more

9 Comments on U.S. Reports First Month in 70 Years as Net Exporter of Oil

  3. Message to Henry Kissinger – You got us into the Middle East quagmire. If we had focused on energy independence in 1972 the mooselimbs would still be wandering around the desert on camels.
    Frack You!!!

    12

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