U.S. oil production headed for 20-year high
As predicted, oil production in the United States hit its highest level since 1994. Production is on pace to have its highest year since 1991.
Output swelled by 8,000 barrels to 6.68 million barrels a day in the week ended Nov. 2, the Energy Department reported today. It was the most since Dec. 23, 1994. Improvements in horizontal drilling and hydraulic fracturing, or fracking, have unlocked fuel trapped in deep underground rock formations in states such as North Dakota, Texas and Oklahoma.
Basically everything the president’s opponents said on the campaign trail about his energy policy was wrong. And by “wrong,” I mean, “the election is over so who cares anymore.”
U.S. Oil Production Increases to Highest Since December 1994, Bloomberg.