The emerging U.S. energy powerhouse

The United States is emerging as the world’s energy powerhouse. Two months ago, the United States became the largest producer of crude oil. Exports of crude oil, oil products and natural gas are rising rapidly. The “keep it in the ground” movement is losing ground.

U.S. crude oil production in August reached 10.8 million barrels per day, more than double the 5 million barrels per day produced in 2008. Last February, U.S. output surpassed that of Saudi Arabia. In August, U.S. production exceeded that of Russia, making the United States the world’s largest producer of petroleum.

U.S. natural gas production is up 40 percent from 2007 to 2017. The U.S. surpassed Russia as the world’s leading producer of natural gas in 2011…

 

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