Trump Effect: U.S. Ends Reliance On Foreign Oil For First Time In 75 Years

Greatest President of my lifetime. So many boxes checked — a win for the American worker, the American economy, while sending less petrol dollars abroad to Muslim countries exporting jihad.

U.S. Ends Reliance On Foreign Oil For First Time In 75 Years

By Joseph Curl, Daily Wire, December 10, 2018:

For the first time in 75 years, the United States exported more oil than it imported, carrying out a pledge from President Trump that America can achieve “energy independence.”

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While the U.S. has been a net oil importer since 1949, over the final week of November, U.S. net imports of crude oil and petroleum products fell to minus 211,000 barrels per day (bpd) — which means America exported more than it imported, according to data from U.S. Energy Information and Administration.

Oil production has been booming in the U.S. as the shale revolution swept the nation. America is now the world’s largest producer of petroleum, passing Russia and Saudi Arabia. As the U.S. oil boom spread, the power of OPEC was reduced and gas prices in the U.S. have dropped from the $4+ highs under former president Barack Obama.

Net imports peaked in 2005, topping 14 million bpd, but in the last few months, the U.S. has imported an average of 2 million bpd. U.S. production has more than doubled since 2012 because of the new technologies for extracting oil.

“U.S. crude exports are poised to rise even further, with new pipelines from the Permian in the works and at least nine terminals planned that will be capable of loading supertankers,” Bloomberg reports. “The only facility currently able to load the largest ships, the Louisiana Offshore Oil Port, is on pace to load more oil in December than it has in any other month.”

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. …

The massive Permian may be even bigger than previously thought. The Delaware Basin, the less drilled part of the field, holds more than twice the amount of crude as its sister, the Midland Basin, the U.S. Geological Service said Thursday.

Meanwhile, the International Energy Agency said in its latest World Energy Outlook “that the United States will be the biggest contributor to the oil market, accounting for almost 75 percent of global oil production growth in the period to 2040,” Epoch Times reported.

The news about the United States becoming a net oil exporter was largely ignored last week, as markets were obsessed with the OPEC meeting in Vienna.

“While there is so much focus on the drama in the OPEC cartel, the real historic news that went unnoticed was that the United States last week exported more crude oil and fuel than it imported for the first time on record,” Phil Flynn, analyst at Price Futures Group in Chicago, wrote in an email.

OPEC, the massive oil cartel in the Middle East, voted Friday to cut oil output by 1.2 million bpd for the first six months of 2019. The move is an effort to push prices up.

Trump, though, called on OPEC and Saudi Arabia not to restrict oil production. “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!” he wrote on Twitter last Wednesday.

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Trident

5 years ago

We had that capability long ago…gas prices still high here in US …got to ship it to china make more money ..same with natural gas tankers china pays premium prices for our petro products….screw us here at home …
will never end …old skull 41 hit hell wide open… now little W controls the oil cartel the Bushes own along with Pennzoil boys in the hood…

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Rocinante44

5 years ago

let’s all remember what the muslim told us about 5 years ago….”we can’t drill our way out of this”. let’s all remember that in 1978 jimmy told us that we would run out of oil in 1980. any of you who vote for democrats need to do us a favor and just load your pockets with large rocks and walk into the nearest ocean and keep walking

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felix1999

5 years ago

Yup! This further ENRAGES the globalists. For decades they used the environMENTAL crap to stop using our resources. Saudi Arabia knows their gravy train is coming to an end so they being forced to loosen up and seek other ways to make money. Saudi Arabia saw this coming. Since the appointment of young crown prince Mohammed bin Salman last year, Saudi Arabia has ushered in dozens of social and economic reforms designed to wean the kingdom off dependence on oil revenue. This will not go over well with people like the Muslim Brotherhood….

BTW this fake outrage on Jamal Khashoggi is not about him, The press views itself as royalty. Jamal wasn’t really a journalist but used that to be a permanent resident cover. He was hiding from Saudi Arabia. Jamal was speaking out against Saudi Arabia and the reforms being made. Jamal is tied to the “secular” Muslim Brotherhood and other bad groups. The press is using this to put a wedge in between Saudi Arabia and the U.S.. Turkey is where Jamal was going to flee to next and both have hatred for Saudi Arabia. So by using Jamal and the Muslim Brotherhood and Turkey they are trying to screw Trump over and stop the military contract.

To further my point that the Washington Post, could care less about human rights, how come they didn’t care when Saudi Arabia executed Israa al-Ghomgham, a female activist. She made the mistake of challenging the Saudis for more reforms and being a female, you don’t have that right. Where was the ongoing outrage by the WP and other liberal outlets when she was executed? It was barely mentioned and the feminists were silent. So this Jamal thing is about working for WP as a “journalist.” and trying to elevate their importance. One less Muslim is a blessing!

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Alleged-Comment

5 years ago

But I’m still paying the same for fuel from 20 years AGO!

It also shows the left and the liebs have been lying to US about the scarcity of oil. This was to give the Arabs MONEY so they can WIPE out Israel.

Failing in that they are letting them INVADE our lands! These lefitst liebs are the CRAP of DEMONS! Demoncraps!

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Drew the Infidel

5 years ago

For perspective, I commuted to a job here in oil-rich west TX around the time Bush 43 was leaving office and Obhammud taking over. Before the switch, you could drive down the highway and count ten drilling rigs. Afterward, all you saw was pulling units and coil tubing rigs, the equipment for re-entering old wells.

It wasn’t much longer that I lost my job when oil dropped below $70 a barrel.

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Phyllis Gittens

5 years ago

And Trudeau’s Canada is still buying Saudi oil. Canada could also be oil independent but not as long as the Liberals are in power. Vote Sock boy OUT

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