The United States energy industry continued to soar to life under President Trump and the GOP-controlled Senate this week; becoming a “net exporter of oil” for the first time in over 75 years.
“America turned into a net oil exporter last week, breaking 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,’” writes Bloomberg.
The American transformation from a net importer to exporter is a direct result of the expanding US oil industry; with “thousands of new wells” appearing in Texas, New Mexico, North Dakota, and Pennsylvania.
“The shale revolution has transformed oil wildcatters into billionaires and the U.S. into the world’s largest petroleum producer, surpassing Russia and Saudi Arabia,” adds the article.
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