America Produces More Oil Than Imports For First Time In Nearly 2 Decades   Leave a comment

Question: Prior to October 2013, when was the last time the United States produced more oil for domestic usage than it had to import in?

If you answered 1995, congratulations! For the first time in nearly 2 decades, the United States produced more oil than it had to import, according to the federal Energy Information Agency. Two reasons were generally cited by most experts: (1)the burgeoning practice of hydraulic fracturing (a/k/a fracking) and (2)continued improvements in fuel-efficiency and energy-efficiency. Indeed, the percentage of imported oil fell from a high of 60% back in 2005 down to 35%, its’ lowest point since 1973, when it was also 35% during the Nixon Administration.

I’m of two minds here…on the one hand, I still very much want to see the United States eventually wean itself off of fossil fuels (and given their finiteness and slowly rising costs, America will eventually wean itself off of fossil fuels). On the other hand, having more domestically produced oil means that less of our dollars went to hostile and not-so-friendly regimes around the world and that is a good thing.

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Posted November 14, 2013 by Matthew in Uncategorized

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