The United States exported more oil than it imported last week for the first time since 1975, boosting American energy security and independence. Exports totaled 211,000 barrels per day for the week, a record high, according to Energy Information Administration data. This monumental feat, unimaginable just a decade ago, has been attributed to the incredible growth in shale production across Appalachia, Texas, North Dakota and other parts of the country.
Here’s what’s been reported about this American energy achievement:
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 almost 75 years of continued dependence on foreign oil and marking a pivotal 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 to the Bakken in North Dakota to the Marcellus in Pennsylvania. (12/6/18)
U.S. Becomes Net Exporter of Oil, Fuels for First Time in Decades
Reducing American dependency on oil imports has been an intense focus of executives and presidents, none of whom anticipated a renaissance in U.S. drilling. But the fracking boom, which has spurred massive increases in drilling from Texas to Appalachia, has sharply lessened reliance on foreign energy. America is now the world’s top producer of oil and natural gas. (12/6/18)
U.S. becomes net exporter of oil for first time in nearly 70 years
The United States has become a net exporter of petroleum products for the first time in nearly 70 years as the nation shipped record volumes of crude oil to foreign markets — and there’s lots more where that came from. (12/6/18)
In major shift, U.S. now exports more oil than it ships in
Petroleum exports until recently were dominated by products like gasoline and diesel, but that has changed since the U.S. shale revolution that has sped up drilling and extraction of oil, helping boost overall U.S. production to a record 11.7 million bpd. (12/6/18)
US becomes net oil exporter for first time in decades
The rise of shale oil production, the end of prohibitions on crude oil exports and investments in advanced oil refining capacity have reduced US crude oil imports and also enabled the country to re-export millions of barrels of fuels such as petrol and diesel, some of it processed from imported oil. (12/6/18)
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