Under Obama, U.S. Leads the World in Oil and Gas Production
The US has been closing ranks on Russia since 2008.
The United States will pass Russia this year to lead the world in production of oil and natural gas, the U.S. Energy Information Administration reports.
America has been closing in on Russia since 2008 thanks to a boom in both oil and gas production, primarily on private lands. This year it’s on track to out-produce it by a substantial margin. Saudi Arabia is third overall and remains the world’s largest oil producer—though the United States may be on track to take that title as well.
“This is a remarkable turn of events,” the head of the EIA told the Wall Street Journal. “This is a new era of thinking about market conditions, and opportunities created by these conditions, that you wouldn’t in a million years have dreamed about.”
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