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    tWebber seer's Avatar
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    US Net Oil Exporter!



    The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years

    America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence."

    The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania. U.S. crude shipments reached a record 3.2 million barrels last week, government data show.


    The shale revolution has transformed oil wildcatters into billionaires and the U.S. into the world’s largest petroleum producer, surpassing Russia and Saudi Arabia. The power of OPEC has been diminished, undercutting one of the major geopolitical forces of the last half century. The cartel and its allies are meeting in Vienna this week, trying to make a tough choice to cut output and support prices, risking the loss of more market share to the U.S.

    https://www.bloomberg.com/news/artic...me-in-75-years
    Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

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    Troll Magnet Sparko's Avatar
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    This is just more proof that Trump is trying to destroy the planet!

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    tWebber seer's Avatar
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    Quote Originally Posted by Sparko View Post
    This is just more proof that Trump is trying to destroy the planet!
    Isn't it a good thing to get off of the OPEC teat?
    Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

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