US close to becoming largest oil producer

Fuel Fix:
U.S. shale surge offsets lowest Saudi oil imports since 1980s

The U.S. bypassed Saudi Arabia late last year and is nipping on the heels of Russia to be the world's biggest oil producer. November output hit a record of 10.057 million barrels a day after the Energy Information Administration revised its data upward. U.S. frackers ramped up production as prices rose toward $60 a barrel late in the year, drawing more drillers to the market.
Imports from Saudi Arabia and Venezuela shrank while imports for Iraq had an uptick.  With the US close to passing Russian production it is another reminder of how wrong President Obama was when he said the US could not drill its way to lower prices.  When it comes to energy Obama was wrong about just about everything.  His push for alternative energy led many companies to make investments in inefficient energy, that is not dependable especially in severe weather events such as the recent record cold weather.


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