The United States’ rapidly declining crude oil supply has made a stunning about-face, shredding federal oil projections and putting energy independence in sight of some analyst forecasts.
After declining to levels not seen since the 1940s, U.S. crude production began rising again in 2009. Drilling rigs have rushed into the nation’s oil fields, suggesting a surge in domestic crude is on the horizon.
The number of rigs in U.S. oil fields has more than quadrupled in the past three years to 1,272, according to the Baker Hughes rig count. Including those in natural gas fields, the United States now has more rigs at work than the entire rest of the world.
Increasing the number of rigs during his term by 4-fold is pretty good. On our way to zero imports in 10 years. Challenging Saudi Arabia as a producer of fossil fuels.
We can debate whether things might have been even better but the facts indicate that he has not made things worse. In fact, the oil business is booming. If he gets the blame for somethings – like the fracking business – he should get recognition when things are going well.
He seems to be allowing our exploitation of natural resources to continue just fine.