Wow don’t tell Obama….
Check it out:
Due to the highest level of domestic crude oil production in 45 years, oil imports will make up less than a quarter of U.S. consumption next year, according to a forecast by the Energy Information Administration (EIA).
In August, “total U.S. crude oil production averaged an estimated 8.6 million barrels per day,” which was “the highest monthly production since July 1986,” according to EIA’s “Short Term Outlook,” which was released September 9th.
EIA expects domestic oil production to increase to an average 9.5 million barrels per day in 2015, which would be the highest level since before the Organization of Arab Petroleum Exporting Countries’ (OPEC) oil embargo in 1973. At that time, the federal government placed a ban on exporting U.S.-produced oil abroad.