Economy

REPORT: US Oil Production To Shatter Historic Milestone In Trump’s First Term

on

Another win for President Trump, US oil production is expected to shatter a historic milestone in Trump’s first term!

With the end of Obama’s excessive regulations President Trump is gaining more room to make improvements in the US economy. The oil production in the US is looking very promising and is expected to shatter a historic milestone in the president’s first term!

From The Daily Caller:

The Energy Information Administration (EIA) “expects crude oil production to reach an average of 9.9 million b/d, which would surpass the previous record of 9.6 million b/d set in 1970.”

Most of the increase in production would come from Texas hydraulic fracturing operations and offshore rigs in the Gulf of Mexico, according to EIA.

EIA forecasts that most of the growth in U.S. crude oil production through the end of 2018 will come from tight rock formations within the Permian region in Texas and from the Federal Gulf of Mexico.

 In fact, Texas’s Permian Basin alone is expected to churn out nearly one-third of U.S. oil production by 2018. Permian production is expected to increase even if oil prices remain below $50 a barrel…
Energy independence is the name of the game. We will be able to export energy to other countries. This hurts Russia big time, and we also will be able to make money. This would have never be accomplished the Obama way with solar power and windmills .
Good. There is no reason that the Middle East has to control the market when we have enough fossil fuels to be in direct competition with them.

About Barry G. Morris

Leave a Reply

Your email address will not be published. Required fields are marked *