February 8, 2018

GREAT AGAIN: US sells oil to the Middle East as surging domestic production puts America on pace to rival Russia and Saudi as world’s top energy producer.

In 2013, the US shipped just over 100,000 barrels a day.

This past November, American firms exported 1.53 million barrels a day.

The US now exports up to 1.7 million barrels per day of crude, and this year will have the capacity to export 3.8 billion cubic feet per day of natural gas.

Terminals conceived for importing liquefied natural gas have now been overhauled to allow exports.
Surging shale production is poised to push US oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

And this new record, expected within days, likely won’t last long.

I’m so old, I can remember when Barack Obama told us we couldn’t “drill our way out of” our energy problems.