The shale-oil revolution has transformed the United States into an energy dependent state into a thriving independent country.
On Friday, the Energy Information Administration (EIA) confirmed that the U.S. has finally cemented its status as a net exporter in global crude oil markets. According to the EIA, the U.S. exported 89,000 more barrels of oil and refined petroleum products per day than it imported in September.
When was the last this happened in a full month? The 1940s.
The EIA cited soaring production volumes, fuel economy improvements in automobiles, and the termination of a crude export ban in 2015 as reasons for the nation becoming an energy king.
Despite promises from every administration since Jimmy Carter to stop depending on foreign energy, the free market has delivered the goods.
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