America just smashed another massive record, and President Donald Trump is directly responsible for getting it done.
The U.S. Energy Information Administration released a bombshell report indicating that America’s crude oil production hit 12 million barrels per day in mid-February.
The EIA’s weekly petroleum report stated that crude output increased more than 1.7 million barrels per day compared to the same time in 2018, when it jumped from 10.3 million to 12 million barrels per day.
“U.S. oil and natural gas production is breaking every record in the book, which helps families and businesses and our national security across the board,” said Dan Kish, a senior fellow at the Institute for Energy Research.
Here’s more from The Daily Caller on the incredible report:
Indeed, drillers continue to beat analysts’ expectations. For example, EIA’s November 2018 energy forecast didn’t see oil output hitting 12 million barrels per day until mid-2019. The month before, EIA didn’t see the U.S. hitting that milestone until the fourth quarter of 2019.
EIA didn’t forecast the U.S. hitting 12 million barrels per day until 2020 or later in its January 2018 estimate. The massive increase in oil output is primarily driven by the Permian basin, which lays deep under Texas and New Mexico.
In the past decade, hydraulic fracturing and horizontal drilling allowed oil and natural gas production reach never-before-seen height. The boom propelled the U.S. to become the world’s top oil producer, edging out Russia and Saudi Arabia earlier in 2019.
While the oil and gas boom started on private and state-managed lands during the Obama administration, it’s gained steam under President Donald Trump. The Trump administration rolled back Obama-era policies it saw as damaging to the energy sector.
“President Trump has awakened a sleeping American energy giant,” Kish said.
EIA’s latest energy outlook estimates the U.S. averaged 12 million barrels per day of production in January, but the weekly oil production reports for that time don’t show output hitting that milestone until mid-February.
Here’s a chart from the U.S. Energy Information Administration showing the incredible increase under Trump from last year, and it will only likely continue to skyrocket.
CHECK IT OUT:
Many experts argue that Trump’s pro-business mentality is the driving force behind the booming economy and markets.
The president has also made a huge push for America to become a global leader in energy and oil output, and it’s working.
That argument is particularly accurate in terms of oil production, as the Trump administration has taken swift action for years to ensure the U.S. is far less dependent on other nations.
There’s finally a no-nonsense businessman in the White House, and the United States has been exceeding expectations on several different fronts.
Trump just keeps winning for the American people, and this latest report is just one of many major accomplishments the president has had since taking office two years ago.