Drudge Retort: The Other Side of the News
Friday, December 07, 2018

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. The EIA said the U.S. has been a net oil importer in weekly data going back to 1991 and monthly data starting in 1973. Oil historians that have compiled even older annual data using statistics from the American Petroleum Institute said the country has been a net oil importer since the mid-1940s, when Harry Truman was in the White House. On paper, the shift to net oil exports means that the U.S. is today energy independent, achieving a rhetorical aspiration for generations of American politicians, from Jimmy Carter to George W. Bush. Yet, it's a paper tiger achievement: In reality, the U.S. remains exposed to global energy prices, still affected by the old geopolitics of the Middle East.

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But yet we need to repeal environmental protections to allow for more drilling and exploration.

www.nytimes.com

#1 | Posted by jpw at 2018-12-07 12:10 PM | Reply | Newsworthy 1

"But yet we need to repeal environmental protections to allow for more drilling and exploration"

Mookie didn't think that far ahead.

his brain can be summarized on a postcard, where incidentally he does all his taxes

#2 | Posted by ChiefTutMoses at 2018-12-07 03:37 PM | Reply

Oh happy day it's far to expensive and we're now exporting it.

#3 | Posted by Tor at 2018-12-07 05:29 PM | Reply

What if the money being invested in drilling and fracking was being invested in solar energy or wind farms? While other nation make the transition from fossil fuels to alternative energy America clings to yesterday. Poland is now moving towards alternative energy. Wake up America, fossil fuel billionaires want to keep you in the 20th Century while the rest of the world moves on to the 21st.

#4 | Posted by danni at 2018-12-08 12:08 PM | Reply

...the shift to net oil exports means that the U.S. is today energy independent

While still importing 10 million barrels per day.

#5 | Posted by REDIAL at 2018-12-08 12:21 PM | Reply

Read the entire article, troglodytes.

#6 | Posted by MUSTANG at 2018-12-08 12:59 PM | Reply

Did we win?

Are we winning yet?

#7 | Posted by donnerboy at 2018-12-08 01:07 PM | Reply

#4 | POSTED BY DANNI AT 2018-12-08 12:08 PM | FLAG: Per your comment you may find this article interesting www.fool.com

#8 | Posted by MSgt at 2018-12-08 02:10 PM | Reply

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