Domestic Oil Production Up 50% Since Obama
November 28, 2013
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5:21Now PlayingDomestic Oil Production Up 50% Since Obama
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as posted by the channel"The United States produced more crude oil than it imported in October for the first time in almost 20 years, the federal Energy Information Administration announced Wednesday. U.S. crude oil production averaged 7.7 million barrels per day in October while 7.6 million barrels per day were imported. Total petroleum net imports were the lowest since February 1991.
The U.S. also produced more oil in September than it has in any one-month period over the last 24 years. The U.S. remains the world's largest consumer of oil and the largest importer of crude oil.
According to Daniel Yergin, a Pulitzer Prize-winning author and energy expert, the technological breakthroughs, such as hydraulic fracturing, which enabled shale gas and tight oil, have led to a revolution, with U.S. crude oil production up 50 percent since 2008."* Cenk Uygur, Ben Mankiewicz, John Iadarola and Wes Clark Jr break it down on The Young Turks.
*Read more here from Ari Phillips / ThinkProgress:
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