Energy industry insiders announced Friday that the United States is poised to become the world’ largest oil exporter; surpassing Saudi Arabia for the first time as early as next year.
According to Citigroup, the US currently produces approximately 8.3 million barrels of crude and refined oil per day compared with Saudi Arabia’s 9.3 million barrels.
Expanding American business and energy operations throughout the country are expected to boost those figures within months.
“Saudi Arabia has also trimmed its oil production more than 100 percent of the output cuts it agreed to under the January 2017 production deal. In March, Saudi crude production was at 9.91 million bpd, below the deal’s output target of 10.058 million bpd,” writes OilPrice.
The new projections fulfill a major campaign promise from President Donald Trump, who vowed to open new areas and unleash energy sector businesses to help make the United States energy independent.
BEIJING BETRAYAL: China CAUGHT SNEAKING Oil Supplies to North Korea
South Korean authorities announced Friday it had detained a Chinese-based ship and its staff over reports the tanker was sneaking oil supplies to Kim’s regime; a violation of recent UN sanctions that barred such shipments to the communist nation.
According to UPI, officials in Seoul confirmed they had seized the Lighthouse Winmore, a ship registered in Hong Kong that allegedly smuggled over 600 tons of refined oil into North Korea last November; well after the United Nations adopted Resolution 2375 which banned the hermit kingdom from importing fuel.
President Trump weighed-in on the revelation on social media, saying he was “very disappointed” that Beijing refused to comply with the UN mandate, adding that no “friendly solution” to the North Korean crisis would be possible “if this continues.”
“Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!” Trump tweeted.
Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!
— Donald J. Trump (@realDonaldTrump) December 28, 2017
South Korea’s seizure of a Chinese ship escalates already heightened tensions in the region; with dictator Kim Jong Un vowing to continue to test his rapidly expanding nuclear and missile programs.
GREAT AGAIN: $2 TRILLION Added to US Economy Under President Trump
The United States Stock Market has added over $2 trillion to the American economy since President Trump won the 2016 presidential election; smashing expectations and further signaling a robust recovery following years of stagnant growth under Barack Obama.
According to CNBC, the S&P 500 stock index grew by $2.04 trillion since Donald Trump defeated Hillary Clinton last November; soaring after the election on renewed hopes of significant tax reform and the reduction of burdensome regulations imposed by Trump’s predecessor.
The largest gains were seen in information technology, financial services, healthcare, and materials.
President Trump now sets his sights on reforming the nation’s complicated and outdated tax code, a key campaign promise to deliver tax relief to millions of American families and businesses.
“People are in wait-and-see mode in terms of tax reform. We get a bit of a pop every time it gets mentioned, but I think the market is in a bit of disbelief,” said one market strategist.
Analysts also credit President Trump’s pledge to rebuild the American military with the massive rise in stocks associated with Defense contracts, reporting some businesses have seen growth of 30% since the US election last fall.