PRO: North American energy trade boosts our economic and energy security

February 20, 2018

The job-creating, economy-boosting resurgence in U.S. natural gas and oil production shows no signs of slowing down.

The latest projections from the U.S. Energy Information Administration show domestic oil production is expected to reach a new high of 10.6 million barrels per day this year, on its way to nearly 12 million barrels per day by 2040. The United States is projected to become a net exporter of oil and natural gas combined by 2023.

The positive impact of American energy abundance is wide-ranging. As The New York Times reports: "The results go far beyond the economic, offering Washington strategic weapons once unthinkable. The United States and its allies now have a supply cushion at a time when political turmoil in Venezuela, Libya and Nigeria is threatening to interrupt flows to markets."

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