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