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Shale Propels US Past Another Energy Milestone


In what feels like the first bit of good news for President Obama in months, US oil production surpassed imports last month for the first time since 1995. It was the highest October production in a quarter century, a reflection of the remarkable transformative power of fracking. Reuters reports:

It is the latest milestone reached by the world’s largest oil consumer after the shale oil revolution reversed declining output and gave fresh momentum to the oil industry in states such as North Dakota and Texas.

“I think this is huge and it’s another step in this revolution that we’re seeing in the energy market,” said Phil Flynn, an energy analyst at the Price Futures Group in Chicago.

“We’re seeing our reliance on imports of crude fall every day.”…

The EIA forecasts show production outstripping net imports for every month until the end of 2014.

Countries like China and Ukraine are trying to play catch-up to the US on shale, but for a variety of reasons are having trouble replicating the unique set of circumstances that set off this revolution. The shale boom is an American success story, and for now, it looks to stay that way.

[North America image courtesy of Shutterstock]

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  • AD_Rtr_OS

    It would be good news for the Obama Administration if it was due to their policies, and not in-spite of them, which is the case.

  • tarentius

    Good news for a President who has done more to thwart the increased production of natural gas and oil than any President since the incompetent Jimmy Carter? Who writes this stuff – holdovers from the Re-elect Obama campaign? Or, maybe the designers of Obamacare.

  • disqus_BglexnIiXv

    In Obamas mind this is terrible news. Yet he touts it as his success. This is disgusting. The American Interest should have a retraction of this story and report that this has happened despite Obama and then dig further and report how much we could be producing if Obama hadnt blocked so many lands from exploration.

  • Andrew Allison

    I protest. The USA’s energy bonanza is in spite of, not because of the President!

  • lukelea

    “The shale boom is an American success story, and for now, it looks to stay that way.”

    True. Still it would be even better were it to become a success story in China and the Ukraine, Australia, Britain, Israel, Mexico, etc., etc., etc.. The greater the world supply the less the world will have to depend on the political situation in and around the Persian Gulf. Or at least I would like to think so.

  • Jacksonian_Libertarian

    “In what feels like the first bit of good news for President Obama in months,”

    While this is good news for the American economy, Obama isn’t going to get credit for it, as he doesn’t deserve any. Obama has been blocking and delaying drilling both offshore and on national lands, and virtually all of the increase in oil and gas production is from wells drilled on private lands, which Obama couldn’t stop. So, the whole shale oil fracking boom comes despite Obama’s attempts to stop it.

  • Mathew Ittycheria

    A lot of gibberish in the comments! Check the Reuters graph under “reports”. The trend of increasing production and decreasing imports started way back in 2008, just after the time of the previous administration. Or is comprehending a simple graph too challenging? In any case , what is all the celebration about? We still need to import a whopping 45 % of our oil needs.

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