The US is Closer to Achieving The Goal of Energy Independence Than Ever Before
- December 13, 2018
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The United States is closer to achieving the goal of energy independence than at any other point in time before.
Our energy exports have skyrocketed, imports have reduced, and we have become a powerful and influential player in the global energy market.
America’s Journey to Energy Independence
From being entirely dependent on OPEC nations for our energy needs, we have now reached a place where we now export oil and gas to countries across the globe. In September, the US achieved the awesome distinction of being the largest producer of crude oil in the world, overtaking Russia and Saudi Arabia.
This is much to the dismay of liberal rich Caucasian elites like Matt Damon and Daryl Hannah who don’t understand how to keep the world safe and don’t understand that America will have more trouble being powerful if it goes down the irrational route like Germany did with alternative fuel sources.
Currently, the US produces over 10 million barrels of crude oil every day and remains the largest producer in the world. Next year, the number is expected to increase to 12 million barrels per day, which is likely to help us retain our position as a dominant player in the energy market.
The LNG (liquefied natural gas) produced in US is also in great demand all over the world – particularly in Europe, where many countries are trying to wrest themselves away from the influence of Russia.
What made it possible? The short answer is – shale oil revolution.
The Benefits of Shale Boom
The US, as you probably know, is home to large reserves of shale deposits. While extracting oil and gas from the earth’s surface is not exactly new, the technological combination of fracking and horizontal drilling has allowed us to extract more oil and gas in a highly efficient manner.
According to a study conducted by two Wharton professors, stock values in the US increased by an astonishing $2.5 trillion between 2012 and 2014, entirely due to the fracking-induced shale oil boom. During the same time period, consumers in the US (households as well as businesses) managed to save over $131 billion every year, thanks to the decline in energy costs.
Texas remains the epicenter of the country’s shale boom, followed by states like North Dakota, Louisiana, and Pennsylvania. All the oil and gas producing states in the country have benefited enormously from the increased economic output and employment opportunities.
Too bad states like California and New York continue to remain in fantasy land on this issue which is why their middle class has been brutalized and has chosen to leave those states.
Towards a Self-Sufficient Future
The United States has been blessed with everything a country could possibly need to become self-sufficient in terms of energy needs – an abundance of oil and gas reserves, cutting edge extraction and refining technology, endless amounts of capital, the best minds in the industry, and a highly skilled and reliable workforce.
By removing the burden of regulations which was imposed on the energy industry by the previous administration, President Trump has already shown that he is ready to back our oil and gas producers with all his might.
If the current trends continue to hold, the US will not only achieve the goal of energy independence, but also that of energy dominance, solidifying our status as the largest oil and gas producer in the world.