The US just became a net oil exporter for the first time in 75 years!

Submitted by MAGA Student

Posted 10 days ago

MAGA!

The Trump economy just made us a net exporter of oil for the first time in 75 years!

From Bloomberg



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CL1
WTI Crude
55.99USD/bbl.+0.82+1.49%
RY
ROYAL BANK OF CA
108.11CAD-0.62-0.57%
0212560D
MARKETS LLC/THE
Private Company
XB1
Generic 1st 'XB' Future
158.39USd/gal.-0.71-0.45%
9886069Z
AMERICAN PETROLEUM INSTITUTE
Private Company
America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence."

The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania.

While the country has been heading in that direction for years, this week’s dramatic shift came as data showed a sharp drop in imports and a jump in exports to a record high. Given the volatility in weekly data, the U.S. will likely remain a small net importer most of the time.


Read more @ bloomberg.com



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