The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949.
The nation exported 89,000 barrels a day more than it imported in September, according to data from the Energy Information Administration Friday. While the U.S. has previously reported net exports on a weekly basis, today’s figures mark a key milestone that few would have predicted just a decade ago, before the onset of the shale boom.
President Donald Trump has touted American energy independence, saying that the nation is moving away from relying on foreign oil. While the net exports show decreasing reliance on imports, the U.S. still continues to buy heavy crude oil from other nations to meet the needs of its refineries. It also buys refined products when they are available for a lower cost from foreign suppliers.
“The U.S. return to being a net exporter serves to remind how the oil industry can deliver surprises — in this case, the shale oil revolution – that upend global oil prices, production, and trade flows,” said Bob McNally, a former energy adviser to President George W. Bush and president of the consulting firm Rapidan Energy Group.
Soaring output from shale deposits led by the Permian Basin of West Texas and New Mexico has been in main driver of the transition — but America’s status as a net exporter may be fragile. Many Texas wildcatters are predicting a rapid decline in production growth next year, while some Democratic contenders for the White House have called for a ban on fracking — the controversial drilling technique that unleashed the boom.
“In the days of Jimmy Carter and even Ronald Reagan, we would have longed for this day,” said Jim Lucier, managing director of Washington, D.C.-based Capital Alpha Partners LLC. “Now we scarcely notice it at all.”
In its Short-Term Energy Outlook earlier this month, the EIA flagged the turnaround and forecast total net exports of crude and products of 750,000 barrels a day in 2020, compared with average net imports of 520,000 barrels a day this year.
To you Anti-Fracking Keep in the Ground idiots with your Fossil Fuel made paints which you paint up your idiotic signs with that stupid finger pointing at the ground think of what it would be like to live in a home without any heat and no electricity to run those heaters maybe its time you thought of where your electricity comes from other then the fact its always there come on think for once without having to watch some fake enviromentalists program or read some lie filled daily news rag or your GAIA Newsletter and quit letting Al Gore and Leonado DiCaprio do your thinking for you
This HAS to be fake news because we are well past the time we were told by “peak oil” advocates that we would run out of oil.
@Deplorable Me: https://www.naturalnews.com/034234_wind_turbines_abandoned.html
WORLDWIDE 14000 ABANDONED WINDMILLS, only as of 2011
I found photographic evidence.
The claim of 14,000 abandoned windmills was originally made and debunked back in 2013, but it periodically resurfaces.
Should we really be celebrating the fact that people are getting rich by exporting record volumes of America’s non-renewable energy resources?
@Greg: So this can be avoided in the future.
Exactly when (date) did the Earth stop producing what is called “non-renewable” fuels? Was it when the dinosaurs died due to the “climate crisis?” Or maybe Mother Earth just went on strike because she realized humans like you are idiots?
How much do you get paid to provide click bait?
@Greg: As usual the liars twisted the 14K stating it was claimed for the USA alone, read carefully its world wide.
Again just saying debunked doesnt make it debunked.
Talk you green BS to the 4 year olds in the cobalt mines in the Congo, all for your green battery cars charged by diesel generators.