The US has been increasing oil production due to the reduced cost of fracking technology. Earlier this yr, we over took Russia and Saudi Arabia, and now we lead the world in crude oil production. This morning we reached the point where we export more oil, than we import from other countries.
Oil companies have been exploiting the bakken fields in North Dakota and the Permian basin in west Texas. They are also building at least six new oil pipelines from west Texas to shipping terminals on the gulf, and oil refineries near Houston.
This is big stuff. The US is already the world's biggest supplier of crude oil, and the new supplies and pipelines are still being developed and expanded. This is the kind of natural resource we could use to balance out our foreign trade, and pay off the national debt.
MAGA 2020.
The US now net Exporter of Crude Oil
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