From Andrew Malcolm at HotAir:
"Of more significant interest, the oil production jump makes the United States the world’s largest producer of oil, ahead of the usual slippery suspects like Saudi Arabia and Russia.
How’s that for energy independence?
And how can presidential debaters turn that into a negative?
Fracking technology is the biggest reason for the production increases.
Also, the breakeven cost for developing new shale wells in Texas, for instance, has fallen $2 a barrel to a recent low of $50 per barrel. The Federal Reserve Bank in Dallas recently painted a rosy picture for continued growth of the onshore shale oil industry.
Energy groups and federal officials project U.S. crude oil output will exceed 13 million barrels a day by year’s end."
To paraphrase a failed, 2016 Democrat potus candidate, "Ah ain't noways tarred of winning."
Related: Si, se puede. Drill, Baby, Drill!
U.S. Oil Exports to India Skyrocket as Sanctions Crush Iran Oil Exports
